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And Vietnamese farmers are replacing their coffee crops with durian to cash in on this emerging market.

“Cannabis is still an emerging market with a lot of credit risk,” Hill added.

"Despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops," the IMF said.

“Global growth is marginally stronger on account of robust activity in the United States and in many emerging market economies,” Georgieva said.

The company said its UK funds, including the Somerset Asia Income Fund and Somerset Emerging Market Dividend Growth Fund, along with its investment team, were looking to transfer to a new investment adviser.