The folks at 82 Devonshire have upped the number of emerging markets mutual funds in their lineup to eight. The latest additions are Fidelity Emerging Markets Discovery Fund and Fidelity Total Emerging Markets Fund.

The Emerging Markets Discovery Fund comes with an expense ratio of 145 bps [ summary prospectus]. Total Emerging Markets Fund has an expense ratio of 140 bps. [ summary prospectus]

Along with the funds, Fidelity [see profile] produced a pair of white papers on emerging markets investing: "The Case for Balanced Investing in Emerging Markets" and "Structural Growth Opportunities in Emerging- Market Small-Cap Stocks."

"We appear to be at a unique point in time when emerging economies are poised to reach levels of wealth that may continue to spur consumption, innovation, and industry formalization within populations that are, in some cases, several times larger than developed countries," said Brian Hogan, president of Fidelity's equity group, in a press release Wednesday. 

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