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Global equity funds deepen exposure to UK
Portfolio managers running global equity funds have deepened their exposure to the UK over the past six months, shrugging aside uncertainty over Britain’s future relationship with Europe and the looming general election. Read more
India stocks surge on Modi reform.
India’s $1.6tn stock market broke new ground last week, with the benchmark index hitting an all-time high as confidence builds that the government’s reform agenda will strengthen growth and corporate earnings. Read more
Fund managers buy back into Chinese banks.
Emerging market fund managers have started buying back into China’s largest banks, despite fears of rising bad loans, off-balance sheet lending to the shadow banking sector and a jump in interbank lending rates to a two-year high. Read more
Frontier investing dissolved as equity index rejigged
Frontier equity indexes are about to lose two of their biggest and most liquid markets, Pakistan and Argentina, a change that may deepen disenchantment with an asset class where investment flows have stagnated in recent years. Read more
Wary Global Investors Hold Back on China
Many global investors are missing out on China’s strongest stock-market rally in years, the latest sign that a potential clash with the U.S. over trade and currency policy looms over the world’s most populous nation.. Read more
Emerging market funds bet big on Russian rebound.
Emerging market fund managers have built up their largest overweight position in Russian equities for at least six years following the election of Donald Trump. Read more
The curious case of the emerging market equity fund.
Steve Johnson uncovers the link between state-owned enterprises and outperformance. Read more
State Control the ‘worst’ form of company ownership.
EM fund managers can beat index simply by ignoring SOEs. Read more
Active Managers earn their corn in EMs.
Genuinely active emerging market fund managers appear to be able to consistently outperform their benchmark, according to research from Copley Fund Research, which tracks 124 funds with assets of $248bn. Read more
Fund Managers Shun Chinese Banks, Industrials.
Genuinely active emerging market fund managers are shunning Chinese banks and industrials amid concerns over rising debt burdens and fears of overcapacity in sectors such as oil refining, steel, coal and aluminium. Read more
China’s ‘Bants’ Set to Rival US’s ‘Fangs’
Fund Managers quadruple holdings of Chinese Internet quartet. Read more
The Brics are dead. Long live the Ticks
Tech-heavy Taiwan, India, Korea and China are the new darlings of the EM world. Read more
Risky Business: Cutting a Path Through Emerging Markets Turmoil.
Justin Leverenz and his Oppenheimer Developing Markets fund will be closely watched by investors this year. Read More
How Some Emerging-Market Investors Actually Made Money
In a rough year for emerging markets, some of the most treacherous trades are paying off. Read More
Emerging Market Equities: Active vs. Passive
As the recent fallout from the Chinese stock market and the prospect of a U.S. interest rate rise continue to affect global markets, long-term investors might find it increasingly important to consider the case of active vs. passive management with regards to emerging markets investing Read More
Sensex Consistently Outperforms MSCI Emerging Market Index
Over a five-year period, the MSCI EM Index is down 21.77%, while Sensex in dollar terms is down by 6.94%… Read More
Investors Pay a Price for Caution on China
For years, Western portfolio managers have been reluctant to steer much cash into Chinese investments. This year, that caution has taken a toll. Read more
China currency turmoil spreads to other emerging markets
Currency turmoil spread across emerging markets this week, following China’s devaluation of the renminbi, with investors panicking that a rise in US interest rates could make it tough for the developing world to repay dollar-denominated debt. Read more
Developed market stocks no longer the path to EM growth
Shares listed in emerging markets have delivered lower returns to investors than shares in developed markets over almost any period since the global financial crisis, so it may seem odd that investors would be moving away from developed markets and into emerging ones. Read more
Indian equities buck the trend as emerging markets see outflows
Emerging market equity funds experienced their biggest weekly outflows in more than five months in the week ended 11 March.. Read more
India has more to offer early movers
Fund managers who were among the earliest to tap into India’s stock market rally say its latest budget and rate cut have kept them bullish on the country’s prospects. Read more
EM fund managers: genuinely active or closet trackers?
How much bang do fund managers give for their investors’ bucks? It’s a question that has provoked plenty of debate in the FT recently, prompted not least by the“scandalous index cloning epidemic” in which supposedly active managers charge high fees for simply following a benchmark. Read more
How to play Putin: fund managers disagree
A fascinating note has arrived in our inbox from Steven Holden of Copley Fund Research, which tracks the investments of 100 big global EM equity funds with about $285bn of assets under management. Read more
Think you’re underweight in China? You’re not as underweight as you think
With GDP growth in China slumping to a five-year low, it’s unsurprising that many fund managers have cut their positions in Chinese equities to less than the weighting suggested by the benchmark MSCI Emerging Markets index. Read more
EM investors: love Modi, hate Dilma
Enthusiasm over Narendra Modi’s election in India and fears that Dilma Rousseff may be re-elected in Brazil have prompted a sharp reversal in the two countries’ positions among equity fund managers. Read More