24 Jul 2024
13 minutes
Elections often move markets. This year, eight of the world’s 10 most-populous nations go to the polls in the same year for the first time ever. FX markets are often the best way to express views or hedge positions in and around elections, and FX volatility presents a source of potential alpha. We have produced this piece to help investors navigate this year. The year of the ballot.
As war in the Middle East adds to a series of global supply shocks, emerging markets are showing growing resilience in an increasingly multipolar world.
Frontier markets are increasingly relevant for today’s portfolios, but expertise and conviction are vital for successful investment outcomes.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
Three members of our EM Debt team went to Washington, DC – we asked them to share their highlights and pointers for investors, including a behind-the-scenes perspective on this important annual event.
Pressure is building in US private debt as weaker underwriting standards, rising defaults and AI-disruption risks combine to create a perfect storm. In contrast, investors in emerging markets can access asset-heavy borrowers, in deal structures that offer higher senior-secured yields and stronger protections.
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.
Reflections on developments across the EM Debt investment universe in March, and the EM Debt team's latest outlook and positioning.
Shifting asset class behaviour is forcing a rethink of allocation approaches and fuelling demand for greater diversification. In this context, emerging market debt is highly relevant, but implementation is key.
EM debt has become an important component of the global debt market. The transformation has resulted in robust credit quality across a highly diverse opportunity set that’s ripe with alpha-capture potential.
Reflections on developments across the EM Debt investment universe in February, with an update on portfolio positioning in the context of the current conflict in the Middle East.
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.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
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.
After a year that pushed emerging market (EM) debt further into the mainstream, opportunities to capture alpha persist across regions and instruments.
Our EM Debt team shares its latest outlook and positioning across the investment universe.
Some areas of this increasingly mature asset class look expensive today. But a bottom-up perspective reveals plenty of opportunities across the globe, with enduring inefficiencies creating compelling value for investors.
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.
Increasingly relevant and in focus, EM debt has entered a more resilient and mature phase. But market inefficiencies continue to provide ample opportunity.
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.
Market and portfolio insights, webinars & events curated from across our investment teams to help you steer through changing investment landscapes.
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