Talking Point

2010: A year in emerging markets


Allan Conway

Allan Conway

Head of Emerging Market Equities

Despite the strong performance of emerging markets this year, we believe that the rally has further to go. Investors are increasingly recognising the structural change that has occurred in the global economy – it is the emerging and not the developed economies that are now driving global growth. Furthermore, economic fundamentals are much more robust in the emerging world, the prospects for earnings growth are very strong and emerging markets are trading at a discount to developed markets. These advantages, coupled with favourable liquidity conditions, add up to a very positive outlook for these markets on a
12-18 month view.

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