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Interested in emerging markets? If so, here are some ideas to get you started.

We ran a screen on US-traded stocks from the BRIC countries (Brazil, Russia, India and China) for those seeing the most significant net institutional purchases over the current quarter. Institutional investors, such as hedge fund managers and mutual fund managers, are generally considered "smart money" investors because of their experience and access to sophisticated research.

We screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks will outperform like hedge funds expect? Use this list as a starting point for your own analysis.

1. Changyou.com Limited (NASDAQ:CYOU): Develops and operates online games in the People's Republic of China. Market cap at $1.54B, most recent closing price at $29.12. Net institutional purchases in the current quarter at 877.6K shares, which represents about 8.87% of the company's float of 9.89M shares. The top 2 holders of the stock are Wellington Management, and FMR, LLC.

2. eLong, Inc. (NASDAQ:LONG): Operates as an online travel service provider in the People's Republic of China. Market cap at $526.81M, most recent closing price at $15.35. Net institutional purchases in the current quarter at 186.9K shares, which represents about 5.34% of the company's float of 3.50M shares. The top 2 holders of the stock are Capital World Investors, and Inegre Advisors.

3. Sina Corp. (NASDAQ:SINA): Provides online media and mobile value-added services (MVAS) in the People's Republic of China. Market cap at $3.52B, most recent closing price at $52.76. Net institutional purchases in the current quarter at 4.2M shares, which represents about 6.68% of the company's float of 62.86M shares. The top 2 holders of the stock are FIl Ltd., and Capital Research Global Advisors.

4. Spreadtrum Communications Inc. (NASDAQ:SPRD): Operates as a fabless semiconductor company that designs, develops, and markets baseband processor and RF transceiver solutions for wireless communications and mobile television markets. Market cap at $788.1M, most recent closing price at $17.17. Net institutional purchases in the current quarter at 5.5M shares, which represents about 16.67% of the company's float of 33.00M shares. The top 2 holders of the stock are FMR, LLC, and Waddell & Reed Financial Inc.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: Hedge Funds Are Buying These 4 BRIC Stocks