Emerging Markets: July Monthly Commentary
2 minutes read timeDuring July the Strategy outperformed the index by 1.9% even as investors got jittery about the AI trade. The greatest positive contribution came from our stock selection in Korea as well as exposures in China and smaller markets such as Argentina, Thailand and Poland. This was offset by stock selection in Taiwan where second-line stocks […]
Emerging Markets Income: July Monthly Commentary
3 minutes read timeOver the month the fund gained 1.4% in GBP, the best country performance came from China and Hong Kong, the weakest was South Korea. Consumer Discretionary was the strongest performing sector and Industrials the weakest.
Emerging Markets: June Monthly Commentary
3 minutes read timeDuring Q2 2026 the strategy outperformed the MSCI Emerging Markets index by 1.8%. The quarter was characterized by a strong equity recovery after a March correction in response to the war in Iran.
Emerging Markets Income: June Monthly Commentary
3 minutes read timeOver the month the fund retraced by 3.75% in GBP. The strongest markets were Saudi Arabia and Thailand; the weakest was China. The best performing sector was Industrials and Consumer Discretionary the weakest. Year to date the fund has returned 19.5% which is behind MSCI Emerging Markets.
Pacific North of South EM Video Update – Q2 2026
< 1 minute read timeHear from Seb Stewart, Head of US Institutional Sales and Kamil Dimmich, Portfolio Manager and Partner at North of South Capital, as they discuss key EM themes and performance from the previous quarter.
Emerging Markets: May Monthly Commentary
2 minutes read timeDuring May, the Fund outperformed the MSCI Emerging Markets index by 1.8%*. The largest contribution to outperformance came from our stock selection in Taiwan, where second-tier AI beneficiaries caught up with market giant, TSMC.
Emerging Markets Income: May Monthly Commentary
3 minutes read timeOver the month the fund gained 7.5% (USD terms), led by Taiwan and South Korea, with Technology and Industrials the standout sectors. China and Brazil were the heaviest detractors, whilst Real Estate and Communications were the weakest sectors.
Emerging Markets Income: April Monthly Commentary
3 minutes read timeIn May the fund rallied by 6.8% in GBP terms, with most of the gains coming from South Korea and Taiwan. Technology was the leading sector followed by Industrials, some of which have significant technology exposure.
Emerging Markets: April Monthly Commentary
3 minutes read timeDuring April, the Strategy outperformed the MSCI Emerging Markets index by 0.6% as markets rebounded following the Iran conflict sell-off. The greatest contribution to outperformance came from semiconductor stocks in Taiwan and Korea, but we also had a strong contribution from Chinese industrials and were helped by our underweight in Brazil and India.
Emerging Markets: March Monthly Commentary
3 minutes read timeDuring the first quarter of 2026 the Strategy outperformed the MSCI Emerging Markets Index by 3.6%. Outperformance was driven by our exposure to Korea, as well as stock selection in China. The underweight to the Indian market, while reduced, has also continued to be a tailwind.