5 Jun 2024
12 minutes
From tech innovation and changes in the global supply chains to shifting regulatory environments and upcoming elections, allocators have a great deal to consider when investing in emerging markets – the role of an active, core manager has never been more in focus.
India has been a bright spot in emerging markets over the past few years. The economy has been growing strongly, and the government has been very clear and transparent in its objectives. This has helped position India as a reliable partner and ultimately an attractive destination for foreign capital. The question from here is, how do you generate positive returns from a country which has seen such a rapid ascent and currently trades at all-time highs?
While the UAE has always been a relatively open country in terms of trade and immigration, it has upped the ante in recent years to become a much more accommodative and competitive partner. The game-changer here has been the introduction of ‘Golden Visas’ in 2019. These allow ‘exceptional talents’ the right to live and work in the UAE through a 10-year renewable visa. This has led to an influx of immigrants, which has driven demand for property, and remains a keen area of focus for us.
Mexico, along with India, has been a huge beneficiary of friend-shoring at the expense of China. Mexico has now overtaken China as the largest trading partner with the US, and current momentum would suggest China will be further marginalised in this ever more polarised world. How could the upcoming US elections impact this fine rebalancing act and where are the likely opportunities?
Markets are pricing in a rapid normalisation of Middle East oil supply following the US-Iran conflict. The talk at a resources industry conference highlights that risks remain.
A research trip to China has reinforced that the energy transition and intelligent economy are accelerating – and investable
Recent setbacks in Senegal’s pursuit of economic stability have left it firmly out of favour with fixed income investors. But my meetings gave me comfort that the key ingredients for a more sustainable future – fiscal reforms and an IMF support package – are still attainable.
The shares of gold miners have been very strong over the past 18 months. But after talking with gold companies at this year’s Mining Forum Americas, I came away confirmed in my view that the outlook for this equity sector remains bright.
A visit to US energy companies reveals a cautious mood among oil executives. But the outlook for gas is more bullish.
At commodity conferences in the US, a mood change among industry players was palpable. In the mining sector, the stage is set for a pick-up in mergers and acquisitions. Even in agriculture, attitudes are turning more positive.
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.
High interest rates and uncertainty have created a challenging backdrop for Brazilian companies. But some businesses are using adversity to catalyse innovation.
The high cost of shipping materials and goods around Indonesia – a country comprising more than 17,000 islands – is putting a brake on the development of the e-commerce sector. The largest Indonesian e-commerce player is innovating to break the logistics logjam, and in doing so extend its market leadership.
Gold is at record highs. Yet attendance at the biggest annual gold-industry conference was well below average and the mood was subdued. This says something useful about the mindset in the gold sector – and what investors can expect from here.
While opportunities abound for investors, Kevan Flynt Salisbury finds that selectivity is increasingly key in this evolving investment landscape.
A research trip to Mexico by analyst Antonio Luiz Gomes highlights favourable dynamics – at home and abroad – that are lifting some of Mexico’s leading companies to create compelling corporate credit investment opportunities.
Roger Mark shares insights gained from his recent trip to Central and Eastern Europe, where broad macroeconomic trends appear positive. An increasingly diverse outlook for monetary policy, coupled with country-specific dynamics, creates a rich hunting ground for active investors.
China’s primary property sales remained weak through 2023 and into 2024, especially in lower-tier cities. The success of new property stimulus measures, urban village renewal and affordable housing initiatives depends on execution and buyer sentiment. Read the team’s latest views following a recent research trip across China.
Whether it’s the strong structural story of Brazil or the alpha potential from Argentina’s reforming economy, Nicolas Jaquier finds a compelling case for these two contrasting debt markets.
Most companies are adopting a wait-and-see approach as the government considers measures to incentivise improved shareholder returns through its ‘Corporate Value-up’ programme.
The US Presidential election is likely to be contested by candidates with starkly different stances on climate. What does the November poll mean for investors in the global decarbonisation opportunity?
Analyst Yunli Liu returns to his home country to see for himself what business conditions are like and try to separate sentiment from fundamentals.
Thys Louw shares insights gained from a recent trip to Cairo, where various factors appear to be aligning to suggest a brighter future for the Egyptian economy.
Ninety One’s PM Kobi Sam recently spent time in the US meeting with allocators and consultants to discuss the dynamics and appeal of investing in Africa. He addresses five most common questions asked during the visit.
Market and portfolio insights, webinars & events curated from across our investment teams to help you steer through changing investment landscapes.
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