All Emerging Market articles – Page 24
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SDG Engagement Equity commentary: Glanbia
Launched in January 2018, the Hermes SDG Engagement Equity Fund has the dual purpose of delivering attractive returns and measurable real-world impact.
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EM Investment Opportunities for 2021
Global investors are currently dealing with two key challenges: find decent yield for their fixed income portfolios in a world of ultra-low or negative interest rates and access some exposure to growth at a reasonable price. EM market assets may offer some opportunities in addressing these challenges and have the potential, in our view, to outperform other asset classes both in equity and fixed income in 2021.
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Seven Crucial Questions This Earnings Season Can Answer
As investors strain to imagine the post-pandemic normal, a blurry vision is already coming into view.
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Is the Tunnel Getting Longer?
In a race between vaccine research and virus mutations, logistical challenges are setting up hurdles that are lengthening the distance to the end of the tunnel. Markets have priced in a strong recovery though there are near-term concerns in the real economy.
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2021 investment case in equities and how Japan fits into it
Although the global recovery began to be priced in last year, the current pro-cyclical rotation is likely to continue. Because of the dollar’s weakness, we prefer emerging markets, but Japan has other things going for it that, at the very least, can help balance out the portfolio.
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What Happens When the Game Stops?
Valuations are stretched, but speculative option trading may not necessarily be a sign of widespread, unsustainable froth.
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Groundhog or Canary?
The recent market gyrations look more like an entertaining sideshow, but it’s worth asking when they might be a signal of something worse.
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Equity factor investing – The impact of portfolio constraints on performance
We investigate the impact of long-only constraints on portfolio performance in the context of the recent underperformance of equity multi-factor funds.
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Cutting Loose: COVID-19 deals globalisation a further blow
Globalisation’s image problem may have been further tarnished by the pandemic, but can political leaders use the crisis to reform it for the better and resist the urge to abandon it altogether?
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China to exert greater financial discipline in 2021
Imposition of financial discipline to reduce moral hazard is more of a risk to Chinese economic growth in 2021 than a tightening of monetary policy.
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Market Commentary - EM sovereign ratings: more differentiation
With the year starting and the publication of the rating agencies revision calendar for 2021, it is time to take stock of the rating dynamics for EM countries.
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Equity factor investing: Putting performance into perspective
What drives the performance of equity multifactor funds? While the value, quality, low risk and momentum factor styles have outperformed over the long term, there have been periods of underperformance. These include the tech bubble of the late 1990s, the Great Financial Crisis of 2008, and now the COVID-19 crisis. Value factor underperformance explains this latest drawdown.
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Key investment decisions in a multi-factor equity framework
When it comes to building an efficient and consistent multi-factor equity strategy, investors need to decide which factors to use and how to diversify their exposure. This determines the long-term risk-adjusted performance of the strategy.
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Cautious Optimism or Cold Realism?
Signs show divergence between China’s supply and demand recovery. The first full week of the new U.S. administration will give more clarity on what can feasibly be expected to pass this term. Meanwhile, Italian politics raises questions over the EU recovery fund.
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Five reasons why EM equities could power ahead in 2021
Has the tide finally turned for emerging markets equities after a decade of trailing US markets? It’s a question we often hear. After two consecutive years of solid gains for the benchmark MSCI Emerging Markets Index, emerging markets appear well positioned for further growth. The US dollar has weakened, commodity prices have firmed, US-China trade tensions may simmer down and there are a number of investible opportunities that could allow investors to take advantage of a potential cyclical recovery in global markets.
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An Investment Scorecard for the Biden Administration
History will judge him on many dimensions, but what can investors reasonably expect that will improve the value of USA Inc.?
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Global Emerging Markets: country allocation review 2021
Fiscal and monetary stimulus programmes across the world buoyed global markets in 2020 with encouraging Covid-19 vaccine trial results providing an end-of-year boost for investors. However, macroeconomic data is mixed: there has been a lower-than-expected improvement in the service sector and inequality is rising.
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Is a Blue Wave Enough to Deliver Blue Skies?
Disappointing U.S. employment suggests slowing momentum amid rising cases, but growth is expected to pick up on the backs of greater potential fiscal stimulus and vaccine deployments. Improving data in China confirms the PBOC can pursue its path of less accommodative policy.
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Taiwan’s Institutional Resilience
Taiwan is illustrative of a broader transformation in emerging markets over the last decade.
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The False Dawn of Big Tech Regulation?
Calls for increased regulation of tech giants have indeed grown—but will they have the desired impact? In our opinion, the focus on “big is bad” is simply ineffective in a digital world.