Despite declining growth data from China, emerging markets remain attractive to investors, seeing an upward swing of 25% in dollar terms since last October.

The past year has been marked by two primary fears among investors: that the European debt crisis will spread, and that policymakers in the emerging markets will choke off growth with anti-inflation measures.

Emerging markets equity investors took a beating in 2011, as rising inflation in these economies and a quest for liquidity in the developed world conspired against them. But the tide has turned, and now might be the time to pile back in.