Emerging markets
Market conditions appear to be shifting in favour of emerging market equities. We explore how to structure an allocation to achieve broad exposure to the return-potential of the asset class while managing risks.
18 minutes
10 Mar 2026
Investment Institute
Sahil Mahtani, Director of Ninety One’s Investment Institute, and Paul Gooden, Portfolio Manager for Global Natural Resources, discuss Venezuela and broader energy themes following the Goldman Sachs Global Energy Conference in Miami.
14 Jan 2026
Investment Institute
Sahil Mahtani, Director of Ninety One’s Investment Institute, and Nicolas Jaquier, EM Fixed Income Portfolio Manager, are joined by Phil Gunson, Senior Analyst at the International Crisis Group, who is based in Caracas for an on-the-ground perspective on the rapidly evolving situation in Venezuela.
12 Jan 2026
All China Equity
There are plenty of catalysts for Chinese equities in 2026, with the latest Five-Year Plan likely to be the centre of attention. We believe that there are abundant opportunities in the Chinese equity market, which still trades at a notable discount to developed markets.
4 minutes
12 Jan 2026
2026 EM outlook
Emerging markets outperformance tends to happen in multi-year cycles. The question for 2026 is whether we are closer to the end or the beginning of this EM cycle. There is strong evidence that it is the latter.
18 minutes
12 Jan 2026
Emerging Markets Equity
While US mega caps continue to dominate the conversation, there are select companies in Asia and other emerging markets that have quietly become indispensable players in the global AI value chain. We believe that the ‘Secret Seven’ could help drive another positive year in emerging market equities.
4 minutes
12 Jan 2026
Investment Institute
Maduro’s exit raises the chance of change, but power is likely to remain with the security state as the US opts for pressure and negotiation over regime overhaul. Markets appear ahead of reality, with any improvement in oil and debt outcomes likely to be slow and uneven.
5 minutes
07 Jan 2026
Deliberating EM Equities
Jen Ford and Archie Hart share how discipline, bottom-up stock selection and a clear risk framework can help unlock long-term value in EM equities.
16 minutes
16 Sep 2025
Deliberating EM Equities
Emerging market equities portfolio managers Archie Hart and Varun Laijawalla argue that stronger fundamentals, pragmatic policy, and resilient performance are reshaping investor perceptions of risk in emerging market equities.
4 minutes
16 Sep 2025
Deliberating EM Equities
Emerging market equities are outperforming developed markets for the first time in years and many believe this could mark the start of a long-term structural shift.
15 minutes
19 Aug 2025
Talking tariffs
Trump’s sweeping trade reset marks the largest US tariff escalation in nearly a century. Ninety One’s Investment Institute unpacks the policy shift, outlines scenario-based outcomes, and explores what it means for markets.
10 minutes
14 Apr 2025
Hidden GEMS
Anton du Plooy, Global Tech Sector Analyst, discusses how DeepSeek's artificial intelligence (AI) breakthrough is challenging U.S. dominance, bypassing restrictions and reshaping global AI investment and geopolitics.
3 minutes
19 Mar 2025
Talking tariffs
Tariffs are reshaping market dynamics—where are the opportunities for emerging market equity investors? Portfolio manager Varun Laijawalla explores the risks, the mispricings, and the strategies for navigating uncertainty.
5 minutes
10 Mar 2025
Deliberating EM Equities
China’s equity performance over the past three years has left investors disappointed. However, with the rollout of its most substantial stimulus package in years, it raises the question: should investors reassess their stance on China?
7 minutes
14 Nov 2024
US election 2024
A shift in gear or more of the same? Portfolio managers Archie Hart and Thys Louw consider the implications of Trump’s election victory for emerging markets and discuss what it means for investors.
5 minutes
07 Nov 2024
Deliberating EM Equities
Emerging markets have changed dramatically over the last decade, resulting in a more diverse and higher-quality asset class. The team discusses how this evolution has transformed the investment landscape.
6 minutes
09 Sep 2024
Deliberating EM Equities
Over recent years, the EM equity asset class has seemed to reach a turning point on more than one occasion, only for hopes to be dashed. After several false dawns, this analysis assesses the critical factors that could support EM returns relative to developed markets.
7 minutes
09 Sep 2024
Deliberating EM Equities
India, alongside China, now represents nearly half of the EM equity universe. While structural trends favour Indian equities in the long term, higher equity valuations mean a selective approach is more crucial than ever.
5 minutes
09 Sep 2024
Hidden GEMS
Varun Laijawalla believes an active approach is imperative to investing in emerging markets, which he illustrates by relating to his team’s experiences of investing in two EM powerhouses – India and China.
19 minutes
26 Jul 2024
Hidden GEMS
MercadoLibre’s success in capturing the digital inclusion structural growth opportunity in Latin America makes it a hidden gem according to Emerging Markets Sustainable Equities Portfolio Manager Juliana Hansveden and Analyst Eduardo Gomes.
3 minutes
26 Mar 2024
At our recent EM Perspectives event in London, we welcomed asset allocators from around the world to explore where the real opportunities lie. With insights from our investment teams and guest speakers, the event offered a fresh look at the evolving EM landscape.
Oil shocks don’t just disrupt, they accelerate change. Higher prices and energy insecurity are fast-tracking the shift to electrification and clean technology, led by emerging markets.
Market conditions appear to be shifting in favour of emerging market equities. We explore how to structure an allocation to achieve broad exposure to the return-potential of the asset class while managing risks.
Capital is returning to emerging market equities. This paper sets out why the investment approach matters and why active strategies have been rewarded in emerging markets.
There are plenty of catalysts for Chinese equities in 2026, with the latest Five-Year Plan likely to be the centre of attention. We believe that there are abundant opportunities in the Chinese equity market, which still trades at a notable discount to developed markets.
Emerging markets outperformance tends to happen in multi-year cycles. The question for 2026 is whether we are closer to the end or the beginning of this EM cycle. There is strong evidence that it is the latter.
While US mega caps continue to dominate the conversation, there are select companies in Asia and other emerging markets that have quietly become indispensable players in the global AI value chain. We believe that the ‘Secret Seven’ could help drive another positive year in emerging market equities.
The AI boom increasingly depends on hardware. A small group of emerging market firms sit at the physical limits of that infrastructure, yet still trade at deep discounts. The “Secret Seven” may represent one of the most overlooked opportunities in global equities.
Under-owned but now firmly on global investors’ radars, emerging markets are set to play a bigger role in portfolios. Compelling – and often mispriced – investment opportunities can be found across asset classes, but careful selection is increasingly vital.
A major headwind to emerging market equity performance is fading. Read how this structural shift could lift future returns and reshape the case for EM allocations.
Emerging markets are diverse, and so are investors’ goals. For those seeking flexibility around China exposure, EM ex-China provides an alternative way to capture growth, resilience, and diversification.
A new cycle reshaping global equity leadership.
Jen Ford and Archie Hart share how discipline, bottom-up stock selection and a clear risk framework can help unlock long-term value in EM equities.
Emerging market equities portfolio managers Archie Hart and Varun Laijawalla argue that stronger fundamentals, pragmatic policy, and resilient performance are reshaping investor perceptions of risk in emerging market equities.
Emerging markets are building the backbone of the AI revolution, offering long-term investors a compelling way in.
Our research offers three reasons why the dollar’s upside is limited, while the balance of risks increasingly point lower.
Emerging market equities are outperforming developed markets for the first time in years and many believe this could mark the start of a long-term structural shift.
For years, capital has gravitated to the US. A one-way trade powered by tech dominance and economic heft. But as the world tilts on its axis, the next cycle is unlikely to resemble the last, and the investment map is beginning to redraw itself.
Shifting from reducing financed emissions to financing reduced emissions. Using practical examples, this paper sets out how we can evolve the approach to net-zero investing to achieve the dual objectives of delivering decarbonisation in the real economy while optimising returns for clients and beneficiaries.
A core strategy seeking to generate alpha across emerging market cycles
Emerging Markets (EM) are gaining investor confidence, driven by tech innovation, India’s rise, and China’s evolving private sector. With US growth uncertainty and attractive valuations, EM equities offer compelling opportunities despite ongoing risks.
1 Source: Population and GDP breakdown are from the IMF and Equity ownership is based on allocations tracked by Broadridge (as at Q3 2024).
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