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Emerging Markets Spotlight

Looking for signs as to which economies (and, potentially, markets) are in the best positions to recover.

  • James Syme
16 Dec 2020
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View PDF   Download PDF  
  • Both the Indian and South African economy have suffered hard landings as a result of the pandemic.
  • Encouragingly, though, both countries have seen a huge build-up of domestic bank deposits during the crisis, significantly increasing the potential for domestic demand recoveries when confidence returns.
  • With improving coronavirus case data in both countries, with a vaccine potentially to be deployed soon, and with other parts of the global economy picking up, we are excited about the potential for the domestic demand cycle in both countries and have been adding to domestically-focused stocks, notably banks, in both markets.

Disclaimer

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. The Fund’s investments may include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation.

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