Emerging Markets Income: March Monthly Commentary
2 minutes read timeThe fund gained 3.1% in March bringing the Q1 return to 8.85% and the one-year return to 28.1%.
Emerging Markets: March Monthly Commentary
3 minutes read timeA positive relative performance of 0.4% in March has led us to finish the first quarter of 2024 with an outperformance of 2.3% against the MSCI Emerging Markets index.
Emerging Markets Income: February Monthly Commentary
3 minutes read timeAs mentioned last month, Korea has suddenly come to life through the ‘Value-Up’ reforms which appear to have gained traction.
Emerging Markets: February Monthly Commentary
2 minutes read timeThe largest contribution to relative performance came from our value stocks in Korea, followed by strong performance in Taiwan and the UAE.
Emerging Markets Income: January Monthly Commentary
2 minutes read timeOnce again China led the downside despite further measures to support both the property and the equity market with direct exchange purchases.
Emerging Markets: January Monthly Commentary
2 minutes read timeEmerging Market equities surrendered all of December’s hard-won gains, led on the downside once again by Chinese markets. During the month, the largest relative contribution came from our positions in Korea, followed by China and Greece.
Emerging Markets: Brazil – Canary in the Coal Mine?
5 minutes read timeIn 2024 the worst performing major equity market in the world was Brazil. In US$ terms, the benchmark Bovespa index dropped almost 30% while nearly all global markets delivered solid positive performance.
Emerging Markets Income: December Monthly Commentary
3 minutes read timeOver the month the fund gained 4.5% and finished the year at an all-time high. This brought the quarterly return to 6.2% and the full year total return to 19.3%. The fourth quarter distribution of £0.103238 was lower than last year partly due to our Korean companies that moved ex-div dates into the first quarter […]
Emerging Markets: December Monthly Commentary
2 minutes read timeDuring 2023 the strategy outperformed the MSCI Emerging Markets total return index by 11.8%. During Q4 the outperformance was 0.6%, as Emerging Markets recovered from their mid-year swoon. This marks the 8th consecutive year of outperformance for our All-Cap strategy.
Emerging Markets Income: November Monthly Commentary
3 minutes read timeIn November, performance was led again by Taiwan but we also had solid performance from financials which boosted our returns from Brazil, South Korea and Poland.
