Emerging Markets equity investors have once again over reacted to Developed Market events. Since 26 January the MSCI Emerging Markets index has fallen 8.6%. Over the same period, developed markets based on the MSCI World index have fallen 9.0%. This is the sharpest correction since the Emerging Markets cycle low in early 2016 and has prompted investor concerns over the outlook for markets. We believe the recent pull back presents another attractive entry point for investing in Emerging Markets equity. Fundamentals, valuations and market factors all continue to point to a bright outlook.