Last year, Gerry Colleary of Wells Fargo Advantage Emerging Markets Equity (EMGAX), forecast that the major developing economies would outperform the developed world in 2012, and he recommended established emerging market companies with strong fundamentals and management. Here’s how his picks have fared:

China Mobile (NYSE: CHL) reported an 8 percent rise in net income for first-quarter 2012, to $4.4 billion, on a 13 percent jump in revenue. The company was able to generate more revenue per customer by expanding its 3G network to 10 percent of its customer base (roughly 64 million people), even though most of its service is still 2G. China Mobile plans to launch a 4G network soon, and offer 100 different 4G-capable phones to be supported by thousands of LTE (long-term evolution) base stations, which the company plans to establish by 2014.

Since last year, China Mobile has raised its dividend about 10 percent, and currently yields just under 4 percent. The shares are up about 22 percent since recommendation.

Anadolu Efes Biracilik (Turkey: AEFES, OTC: AEBZY) still dominates the Turkish beer market, with an 89 percent share due to the advertising barrier foreign competitors face.

The company continues to expand its reach into nearby countries, as it completed a deal earlier this year to acquire SABMiller’s (London: SAB) Russian and Ukrainian beer businesses in exchange for 24 percent of its stock.

First-quarter 2012 profits grew 6 percent to $56.9 million, while sales jumped 15 percent to $623.2 million. Shares of Anadolu have gained 16 percent since recommendation.