Mainstream investors can remember when many of the largest countries in the emerging world experienced bouts of volatility, elevated borrowing costs, currency devaluations, high political risk and episodes of default.
As investors start to take on more risk we ask managers for their strategies in this environment.
Burberry has been named the best stock to buy in 2012 by Kames Capital's head of UK equities, Stephen Adams.
PIMCO, the world's largest bond fund manager, is telling its clients to diversify out of euros and into EM currencies, according to Reuters.
Nancy Curtin is chief investment officer of Close Asset Management......
The predictions of consolidation within the asset management industry come and go with the economic cycles and stock market volatility.