Elevated Risk Mutual Fund Question?

I currently have a well deversified set of mutual fund investments in various "safe" funds. I am looking to move some cash assets into a higher risk, high return mutual funds, as a part of a 5-10 year investment plan. Any recommendations? I have considered china funds, asia funds, russia funds etc, any specifics. Any prospects that look to be up and coming sectors?

China and India are indeed more risky than the more moderate growth countries, but because they growing so much faster and indeed have greater opportunities it is worth taking some risk, say maybe 10% of your assets. Funds that I know of that appear to offer potential and indeed have performed very well these past couple of years are TDF and CHN for Chinese investments, also the index fund FXI. And IIF and INF for Indian investments. There are others also but these are the ones I am familiar with. If you want a particular stock maybe CHL, the Chinese cell phone company.

Now you do not require elevated risk mutual funds to perhaps improve your overall returns. You can accomplish the task with good diversity also. Do you have any money invested in European mutual funds? SWZ is a sound one. All Swiss companies. Also consider the European index funds. EFA. And for more aggressive U S investments maybe a small cap and a mid cap index fund. IWM, IWN, MDY. Something along those lines. Actually, those 3 are not really all that specualtive.

FundAlarm monitors different mutual funds. The site lists tables that show which funds consistently underachieve and which ones do well.
http://www.fundalarm.com

Personally, I will not invest in any fund investing in Russia because of the Russian Mafia and the Russian government. China is an incredible market to invest in, but be very cautious and don't over-invest (political climate).

I have had very good returns with a few Fidelity funds..FLATX covers Latin America..( a little energy heavy, but still a fave)...also Fidelity's Emerging Markets (FEMKX)..well into the + 20% range last three years ( 108% return in 30 months)..
Also in EUROX..( Eastern Europe/ mostly Russia...again heavy energy, but still very profitable with the lowered oil prices)
You could diversify by buying about four ETF's at approx the same amount you would normally put in one mutual fund...
ETF info; http://www.best-of-etfs.com/family.asp?f...
Or if you wanted to go with individual stocks, consider a company like United Technologies (UTX) a diverse American company but yet about 60% of their income is from foreign markets.
Good luck
P.S. If you want a sort of foreign, but still " safe" fund look into FNMIX another Fidelity fund...but more into bonds and " financials" in many countries...it has monthly divs,( automatically re-invested) and has averaged about 14/15% in the last three years.