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By David Orr, Senior Portfolio Manager, Sparinvest Value Equities
Over the past decade, during a period of high economic growth, emerging market stock markets have performed extremely well, delivering average annual returns exceeding those of developed markets by double digits. Whether or not economic growth continues to be a catalyst for emerging market returns, the sheer size and depth of these markets today mean that no global portfolio is complete without a significant allocation to them. For a significant cohort of investors, reluctance to pursue the high returns potentially available from emerging market equities has been based on a perception of higher risk, whether financial or non-financial or for ethical reasons. Some emerging nations...
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