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Investors' portfolios are not keeping pace with the economic growth of emerging markets, according to Fidelity International.

New research from Fidelity International has revealed that UK savers have just 2.3 per cent in global emerging markets even though they now account for 30 per cent of the world's GDP.

Research from the investment provider also showed that China has risen to be the third most important country in terms of GDP by the end of the year, behind Japan and the US.

In 1990, China occupied 10th position in the global GDP rankings, by 2000 it had climbed to sixth position and in 2008, its estimated GDP was 6.6 per cent, behind Japan with 8.1 per cent and the USA with 23.6 per cent market share.

Peter Hicks, executive director of UK Retail at Fidelity International, said: "The changing economic realities make it worth rethinking the traditional level of exposure investors have to these markets.

"Obviously there are risks with investments in emerging markets as corporate governance standards are in some cases lower than in the West and their equity markets can be as volatile as British banking shares. However in the long-term, the performance of stock markets tends to be correlated with economic performance."

Ian Howell, financial adviser for Norfolk-based Capital Tower, said: "People's portfolios need to be varied and take advantage of different areas, but it has to be right for their risk portfolio. In the past many investors have been very UK-focused."