Emerging markets equities
We believe that emerging market equities are now firmly a part of core allocation for most equity investors.
At the same time, there has been a significant step-change in the dynamics of emerging markets, and the inefficiencies that were previously exploited by fund managers have become increasingly subtle. Our investment philosophy and process have evolved accordingly.
Over the last few years the characteristics of emerging markets have been shifting from stage 1 to stage 2 in the model below. Before 2006, emerging markets were characterised by low liquidity, a narrow range of investment ideas and limited investment strategies. Today, investor allocations are strategic rather than tactical. Market liquidity for stocks has vastly improved, and the breadth of the investment universe has expanded substantially.
Use the links below for more information on emerging market equities.