Investment Adventures in Emerging Markets

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Guest Bloggers

Meet My Team: Carlos Hardenberg

Frontier markets remain the most vibrant economies we are investing in today. The level of entrepreneurialism is astonishing, and the large and young consumer societies are increasingly demanding the same lifestyle of people in the Western world.

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Perspective

A Fed Move Could Be Good News for Emerging Markets

If in coming months the Fed feels confident enough in the US economy to raise interest rates, it could be viewed as positive news for emerging markets, particularly those with export ties that benefit from a strengthening US economy.

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Perspective

Vietnam-EU Agreement: A Good Deal for Southeast Asia

As investors in Vietnamese stocks, the primary constraint we face is one of liquidity and limited choices in which to invest, but we are hopeful that will soon change. Vietnam has had a fast-growing economy, and we have found good companies there, including some that are state-owned.

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Perspective

On Market Corrections, and Keeping a Calm Head

Despite recent market volatility, we consider the long-term outlook for China’s market and economy to be good. We don’t view this recent correction as the start of any sort of economic or market collapse underway, and it doesn’t change our view on investing there.

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History

Building Corridors to the Future in Pakistan

We have been investing in Pakistan for a number of years, and see it as an overlooked investment destination with very attractive valuations due to negative macro sentiment.

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Perspective

China’s Currency Moves

The recent action in China’s stock market and its currency has caused a heightened attention to Chinese government policy decisions. All this attention certainly demonstrates how important China has become within the global economy at large.

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History

Iran: Open for Business?

We think relief from economic sanctions could accelerate Iran’s growth rate by removing barriers to the nation’s oil exports, bringing in more foreign capital, and ending the isolation of its banks from the global financial system.

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History

The Rise of the Renminbi: Will China’s Yuan Become a Global Reserve Currency?

Reserve currency status and RMB internationalization could confer a number of significant benefits on China, including potentially lowering borrowing costs and facilitating overseas expansion by Chinese companies.

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Perspective

Story of China Still Intact Despite Market Downturn

In my view, the bottom line regarding the recent correction in China’s markets is essentially a story of too much euphoria and a natural correction.

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Perspective

Growth Matters

We have found that companies in the consumer or retail space with a high market share can benefit from rising consumption and GDP per capita. These investments are particularly attractive if profit margins can be improved.

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Perspective

Building for the Future: Infrastructure in Emerging Markets

Emerging economies in general have experienced stronger economic growth trends than developed markets over the past decade, a trend that I expect to continue. That growth, combined with rising populations and a trend toward urbanization, requires more infrastructure.

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Perspective

Developments in the Reform of China’s State-Owned Enterprises

Investors’ interest in China’s SOEs has no doubt been piqued by guidance from sources close to the government that reform plans foreshadowed in the government’s November 2013 program could soon begin to assume more concrete shape, helping drive the recent gains in the Shanghai and Hong Kong share markets.