Artemis' Altaf on a decade in EMs, SmartGARP's evolution and why it is dangerous to avoid China

'There is no perfect model for the world and the equity market'

Artemis manager Raheel Altaf has recently celebrated ten years managing the SmartGARP Global Emerging Markets Equity fund, during an eventful decade which has tested the strategy but also provided significant opportunities.

Reflecting on the experience for emerging market investors over the past decade, Altaf acknowledges that given an optimistic starting point, they have "largely been left quite disappointed". He highlights a major shift in these expectations has been how much the Chinese economy slowed over the period as it matured. Investor confidence on the up in July as Artemis Global Income retains top fund spot "Asset class returns have also been very disappointing, partly because the Chinese economy has been slowing but also because of a lot of equity issuance, which has diluted investments. F...