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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.

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

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

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

List sorted by net institutional purchases as a percent of share float.

1. E-Commerce China Dangdang Inc. (DANG): Operates as a business-to-consumer e-commerce company in the People's Republic of China. Market cap of $348.79M. Net institutional shares purchased over the current quarter at 5.5M, which is 19.75% of the company's 27.85M share float. It's been a rough couple of days for the stock, losing 5.58% over the last week.

2. UTStarcom Holdings Corp. (UTSI): Designs and sells Internet protocol based telecommunications infrastructure products to telecommunications service providers and operators worldwide. Market cap of $215.46M. Net institutional shares purchased over the current quarter at 16.4M, which is 16.61% of the company's 98.75M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.03). The stock has lost 33.01% over the last year.

3. MakeMyTrip Limited (MMYT): Provides travel products and solutions in India and the United States. Market cap of $885.87M. Net institutional shares purchased over the current quarter at 1.3M, which is 15.61% of the company's 8.33M share float. The stock has lost 11.06% over the last year.

4. Home Inns & Hotels Management Inc. (HMIN): Develops, leases, operates, franchises, and manages a chain of economy hotels in the People's Republic of China. Market cap of $1.17B. Net institutional shares purchased over the current quarter at 3.7M, which is 15.24% of the company's 24.28M share float. The stock is a short squeeze candidate, with a short float at 13.37% (equivalent to 15.04 days of average volume). It's been a rough couple of days for the stock, losing 6.56% over the last week.

5. Tudou Holdings Limited (TUDO): Operates as an online video company in the People's Republic of China. Market cap of $77.85M. Net institutional shares purchased over the current quarter at 1.7M, which is 12.13% of the company's 14.01M share float. The stock has had a couple of great days, gaining 9.8% over the last week.

6. China Kanghui Holdings (KH): Develops, manufactures, and markets orthopedic implants and associated instruments. Market cap of $344.18M. Net institutional shares purchased over the current quarter at 1.1M, which is 11.41% of the company's 9.64M share float. The stock is a short squeeze candidate, with a short float at 11.19% (equivalent to 32.52 days of average volume). The stock has lost 20.37% over the last year.

7. TIM Participacoes S.A. (TSU): Provides mobile telecommunications services through global system mobile echnology to business and individual customers in Brazil. Market cap of $6.39B. Net institutional shares purchased over the current quarter at 11.1M, which is 9.89% of the company's 112.21M share float. Offers a good dividend, and appears to have good liquidity to back it up--dividend yield at 4.87%, current ratio at 1.37, and quick ratio at 1.31. The stock has lost 22.34% over the last year.

8. Sohu.com Inc. (SOHU): Engages in the brand advertising, online gaming, sponsored search, and wireless businesses in China. Market cap of $1.90B. Net institutional shares purchased over the current quarter at 2.7M, which is 9.05% of the company's 29.82M share float. Might be undervalued at current levels, with a PEG ratio at 0.66, and P/FCF ratio at 8.79. The stock has lost 21.25% over the last year.

9. BCD Semiconductor Manufacturing Limited (BCDS): Engages in the design, manufacture, and sale of power management analog integrated circuits and other semiconductor devices in the People's Republic of China. Market cap of $73.39M. Net institutional shares purchased over the current quarter at 1.2M, which is 8.88% of the company's 13.51M share float. The stock has gained 0.% over the last year.

10. Simcere Pharmaceutical Group. (SCR): Develops, manufactures, and markets branded generic and proprietary pharmaceuticals in China. Market cap of $506.66M. Net institutional shares purchased over the current quarter at 1.2M, which is 8.21% of the company's 14.62M share float. The stock has had a couple of great days, gaining 19.44% over the last week.

11. Ctrip.com International Ltd. (CTRP): Provides travel services for hotel accommodations, airline tickets, and packaged tours in the People's Republic of China. Market cap of $3.36B. Net institutional shares purchased over the current quarter at 10.0M, which is 7.54% of the company's 132.65M share float. The stock has performed poorly over the last month, losing 13.97%.

12. Ambow Education Holding Ltd. (AMBO): Provides educational and career enhancement services in high school entrance examination and college entrance examination markets in China. Market cap of $506.09M. Net institutional shares purchased over the current quarter at 963.2K, which is 6.82% of the company's 14.12M share float. The stock has lost 48.99% over the last year.

13. Hanwha SolarOne Co., Ltd (HSOL): Provides various energy solutions including silicon ingots, wafers, monocrystalline and polycrystalline solar cells, and solar modules. Market cap of $82.27M. Net institutional shares purchased over the current quarter at 1.3M, which is 5.83% of the company's 22.28M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.43). It's been a rough couple of days for the stock, losing 15.52% over the last week.

14. Shanda Games Limited (GAME): Engages in the development and operation of online games in the People's Republic of China. Market cap of $1.11B. Net institutional shares purchased over the current quarter at 4.0M, which is 5.70% of the company's 70.22M share float. It's been a rough couple of days for the stock, losing 7.35% over the last week.

15. Giant Interactive Group, Inc. (GA): Develops and operates online games in the People's Republic of China. Market cap of $938.36M. Net institutional shares purchased over the current quarter at 5.0M, which is 5.20% of the company's 96.09M share float. Offers a good dividend, and appears to have good liquidity to back it up--dividend yield at 4.41%, current ratio at 2.19, and quick ratio at 2.19. The stock has lost 4.9% over the last year.

16. Companhia Brasileira de Distribuicao (CBD): Operates as a retailer of food products, clothing, home appliances, and other products through its chain of hypermarkets, supermarkets, specialized and department stores, convenience stores, and the Internet in Brazil. Market cap of $9.48B. Net institutional shares purchased over the current quarter at 4.3M, which is 5.02% of the company's 85.74M share float. The stock has lost 12.28% over the last year.

17. AutoNavi Holdings Limited (AMAP): Provides digital map content and navigation and location-based solutions in the People's Republic of China. Market cap of $490.97M. Net institutional shares purchased over the current quarter at 1.2M, which is 5.01% of the company's 23.94M share float. The stock has lost 37.43% over the last year.

18. 51job Inc. (JOBS): Provides integrated human resource services primarily in the People's Republic of China. Market cap of $1.19B. Net institutional shares purchased over the current quarter at 437.7K, which is 4.87% of the company's 8.99M share float. The stock has lost 14.84% over the last year.

19. Changyou.com Limited (CYOU): Develops and operates online games in the People's Republic of China. Market cap of $1.21B. Net institutional shares purchased over the current quarter at 360.0K, which is 3.59% of the company's 10.04M share float. The stock has lost 19.15% over the last year.

20. Patni Computer Systems Limited (PTI): An information technology services company, provides a range of IT services through integrated onsite and offshore delivery locations. Market cap of $1.10B. Net institutional shares purchased over the current quarter at 214.9K, which is 3.30% of the company's 6.51M share float. The stock has lost 23.66% over the last year.

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

Source: Hedge Funds Are Buying These 20 BRIC Stocks