Investment Adventures in Emerging Markets

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Perspective

Will China’s Year of the Goat Bring Out the Market Bulls?

We believe China’s comprehensive capital market reform plan is the right step taken by the government, but the market still doesn’t seem too confident the government is willing to take the short-term pain to put all these reform proposals into action.

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Perspective

A Few Words on Greece

We see the Greek election as bringing to the fore how the country’s debt situation—and issues related to debt problems in Europe overall—requires dramatic changes and bold action.

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Perspective

Reforms in Asia Bring Big Potential for Small Companies

Smaller companies in emerging markets appear poised to potentially benefit amid more market-friendly reforms that break down barriers to entry and inspire entrepreneurship. Additionally, since small-cap companies are driven primarily by domestic demand, the recent drop in oil prices could be an added boon to these companies.

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Perspective

Africa’s Electrifying Future

We believe the availability of reliable power could sustain dynamic economic growth rates across Africa, potentially enriching the population and creating markets for new consumer businesses.

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Perspective

2015 Investment Outlook: Emerging Markets Still Global Growth Drivers

We are enthusiastic about the potential of new technology to accelerate growth trends, with some Internet and mobile communications-based technologies in particular offering less developed countries the opportunity to potentially leapfrog generations of economic change in more mature markets and move directly to efficient modern systems.

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Perspective

Oil and Emerging Markets: A Double-Edged Sword

Most consumers naturally cheer lower energy prices, but looking at overall economic impacts, lower oil prices can be a double-edged sword. In countries that are heavily dependent on oil exports, a prolonged oil price slump could be harmful.

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History

ASEAN’s Ambitious Agenda

Most investors are likely aware of the activities of the Fed and European Central Bank, but perhaps less talked about is the fact that the People's Bank of China has an even bigger balance sheet than the Federal Reserve.

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History

Malaysia’s Developing Vision

Currently, we see Malaysia undergoing a period of transition, as old policies must evolve to meet future goals. I would describe our view of Malaysia today as cautiously optimistic—we are certainly hoping Malaysia succeeds in reaching its ambitious goals, and we plan to be there along the way.

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History

Indonesian Optimism

President Jokowi is a change from all past presidents since Indonesia gained independence in 1945. Hence, some degree of optimism is justified, although it will not be without hurdles.

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Perspective

Three Words for Brazil

In our view, a more market driven economic approach in Brazil, together with a reduction in bureaucracy, should benefit both the people of Brazil and investors in the country, but our investment metrics suggest that a number of businesses with strong management and attractive positions in their markets are well placed potentially to prosper even in a business-as-usual environment.

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Perspective

Focus on Long-Term Fundamentals, Not Fears

I can’t say when this current bout of market volatility will end, but I can say, based on decades of experience navigating the markets, that it won’t last forever. And, it will bring potential opportunities for the savvy investor who knows where to look.

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Perspective

Blurring the Lines Between Emerging-, Frontier- and Developed-Market Stocks

We remain convinced that the boundaries of emerging-, frontier- and developed-market stocks will continue to converge and offer investors significant potential opportunities in their portfolios—no matter how they are labeled—in the years to come.