Does Africa trump Asia for growth opportunities?

Tapping Asia and Latin America for emerging growth is increasingly becoming a crowded trade, and Africa is offering even better long-term opportunities, explains Nick Price, manager of the Fidelity Emerging Markets fund.

Inflows or outflows? Emerging markets have had their worst inflows for 15 years, and the MSCI Emerging Markets index has declined by over 8% in the last year. So why is it time to re-enter emerging markets? One simple reason is that some investors are starting to do so. The last month or so has seen a surge of assets pouring into emerging markets, with the highest positive flows being recorded in almost a year. Valuations relative to developed market economies are also at extremely attractive levels. Looking to the future, emerging markets remain in a far stronger position tha...