17th June 2010
The case for emerging markets is now well-established.
Higher growth rates, better demographics, urbanisation, a growing middle class, low debt – emerging markets have all the economic winds in behind them.
The trouble for equity markets is that this case has been so well-made that they have seen some giddy rises over the past few years.
As Peter Marber from HSBC Global Asset Management says: "Emerging markets fiscal dynamics – from Asia to Latin America – are far superior to those of Greece, Italy, Ireland, Portugal and Spain, and potentially the UK and US."
These seductive returns have often obscured the attractions of other emerging market asset classes, such as sovereign debt and currencies.