Investing in emerging markets can occasionally feel like taking a trip back in time. When we observe the progress of emerging economies, we are likely to see developments that occurred in developed economies decades ago. If we pay attention to this phenomenon, we can see the replication of those tried-and-true developed market business models in emerging markets early and capture meaningful alpha as they mature from small businesses to large enterprises. It’s like watching a movie that you’ve seen before.
Disclaimer
The views expressed are those of the portfolio manager as of December 2019, are sibject to change, and may differ from the views of other portfolio managers or the firm as a whole. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice.
Surviving the China-US Tech War: The EM Small Cap Advantage
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