What can IT structure offer EM investors?

Closed-ended structures can be a more appropriate way of accessing volatile and less liquid markets, writes Richard Titherington, manager of the J.P. Morgan Global Emerging Markets Income trust.

With yields on bonds and cash still stuck at historically low levels, investors are increasingly turning to equities to fulfil their income requirements. Investors in search of growth have long seen the attractions of an allocation to emerging markets. While economic growth and stock market performance do not always go hand in hand, the attractive combination in many emerging markets of a healthy export-driven manufacturing base and increasing domestic consumption from a growing middle class has translated into a benign backdrop for companies that do business in these areas. Increasingly...