Like many countries that took part in the World Cup, the emerging market (EM) space kicked off the 2018 season with euphoria, only to have their hopes dashed on the pitch.
The overriding consensus was it would be another positive year for the MSCI EM index and, by the end of January, it had climbed to 1,273. However, the second quarter proved to be the worst for EMs since 2015, driven by a shift in expectations in the number of US rate hikes, a stronger dollar and concerns around the US-China trade relationship. Even though markets can be jittery in the short term, depending on where rates and the dollar settle and the latest political headlines, as long-standing value investors we believe these sell-offs present buying opportunities. IW podcast: Are e...
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