Emerging markets

With the bears on a rampage, it is increasingly incumbent on those of us who regard ourselves as cautious optimists to get real about what could go wrong, writes David Stevenson.

The very different economies grouped under the emerging markets label offer contrasting prospects for investors. India, for example, continues on a gradual reform path and we believe its outperformance is not a quirk and should continue.

Stock exchange worth $200bn

For first time since 2011

Joint venture with Turquoise Partners

Sell becomes director of investment process

Did not expect the RMB to hold up

Since it overheated in 2011, following a four-year bull phase that was characterised by expensive equities and an overvalued currency, the Vietnamese economy has been turned around in classic monetary and fiscal fashion.

Conditions may worsen

BlackRock co-global head of equities Nigel Bolton said emerging markets are under the greatest stress compared to other regions, but he is eyeing a turnaround next year.