Shares of Sberbank (SBRCY)  are up over 35% this year, but there is more to the Russian bank's rise than the recovery in oil, said Bert van der Walt, portfolio manager for Mirae Asset Emerging Markets Great Consumer Fund (MICGX) - Get Mirae Asset Emg Mkts Great Consum I Report .

"There is also a longer term structural story at Sberbank. It is Russia's number one bank and serves all the people of Russia," said van der Walt. "There are tremendous opportunities in Russia's growing mortgage market and Sberbank is poised to take advantage of them."

The Mirae Asset Emerging Markets Great Consumer Fund is down 3.1% thus far in 2016, according to Morningstar. The $173 million has lost an average of 1% annually over the past five years, outpacing 88% of its Morningstar category peers.

Van der Walt is also bullish on Switzerland-based Luxoft (LXFT) - Get Luxoft Holding, Inc. Class A Report , down 21% year-to-date, which provides IT solutions primarily in Eastern Europe. Last week Luxoft reported a 25% rise in revenue to $650.8 million for the full fiscal year ended March 31. GAAP net income at the company was $2.06 per diluted share, and adjusted net income was $92.9 million, or up 19.3% year over year, to $2.72 per share.

"They provide really complex software solutions to banks in the West and they do it at a lot lower cost so increased regulation in the Western banking system is good news for these guys," said van der Walt.  

Alsea (ALSSF)  operates fast food restaurants from a number of well-known global chains in Mexico and it is another one of van der Walt's top plays on the rising middle class in emerging markets.

"They operate restaurants like Starbucks (SBUX) - Get Starbucks Corporation Report , Burger King and Domino's (DPZ) - Get Domino's Pizza, Inc. Report  and as Mexicans have more money to spend and eat outside their homes, these are the restaurants they want to go to," said van der Walt.

One stock van der Walt is bearish on is South African apparel seller Mr Price Group (MRPLY) . He said they missed the fashion trend in South Africa a couple of times and once you do that "it's hard to get the client base to come back to you".

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