Investment Adventures in Emerging Markets

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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.

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Perspective

State of Emerging Markets: All About Those [Central] Banks

Moving into the second quarter of 2015 and beyond, we believe a complex global background appears broadly favorable for emerging markets.

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Perspective

A Pivotal Year for ASEAN?

In our view, Southeast Asia is currently among the most exciting investment destinations available to emerging and frontier market investors. The range of opportunities available to investors is remarkable, from the highly developed and technologically sophisticated Singapore market through emerging markets in various stages of development.

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Perspective

Investor Sentiment Around the World

We certainly don’t want to jump to any conclusions about potential market performance based on investor sentiment (or any one indicator for that matter), but it reminds me of the late Sir John Templeton’s famous words: ‘Bull markets are born on pessimism, grow on skepticism and die on euphoria.'

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Guest Bloggers

Celebrating Romania

In our view, structural reforms, including a push for more fiscal predictability, coupled with a new IMF loan agreement, should likely boost investor confidence in Romania. In addition, We believe the efforts undertaken to facilitate investor access to the local capital market, which has been quite difficult in the past, are positive steps toward attracting more foreign investments in Romania.

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Perspective

Significant Slip—or Just a Blip—in Emerging Markets’ Foreign Exchange Reserves?

We view the relatively small decline in emerging market foreign exchange reserves as quite minor in the broader macroeconomic context.