By Gustavo Medeiros, Ben Underhill
The Emerging View

The case for emerging market small cap equities

EM small caps are assumed to be the risky cousin of US small caps. The data says otherwise: nearly nine in ten are profitable, on half the forward multiple of the Russell 2000. We make the case for the asset class.

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Weekly investor research

Oil relief welcome before Wednesday’s FOMC

After 13 consecutive nights of strikes, the US paused its attack on Iran over the weekend, welcome relief ahead of Wednesday's FOMC. Elsewhere, Samsung and SK Hynix signed USD 950bn of US supply deals and Bank Indonesia's governor resigned.
Weekly investor research

The arrival of Kimi K3 tests investors’ faith in Jevons’ Paradox

Chinese open-weight model Kimi K3 raises questions over AI lab monetisation, testing investors’ faith in Jevons’ Paradox. The Korean memory stock unwind extends, US CPI turns negative and the Bank of Korea hikes for the first time in three years.

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Weekly investor research

IMF sees better GDP growth in EM

The IMF has kept its global economic growth forecast for 2022 unchanged at 3.2% but highlighted better EM growth. Russia aims at Ukraine infrastructure. Brazil had the third consecutive month of deflation. China’s 20th Party Congress started Sunday as...
Weekly investor research

War or Peace?

Russia on the backfoot as the plot thickens in Ukraine. The OPEC+ agreed to cut its production quota by 2m barrels of oil per day. The global manufacturing PMI is still on a declining trend, but several EM countries are bucking the trend and...
Weekly investor research

Brazilian presidential elections tighter than expected

Russia annexed four Ukrainian provinces after a staged referendum, but the Ukrainian army re-takes important territories on the ground. Incumbent President Jair Bolsonaro performed better than expected in the presidential election in Brazil.
Weekly investor research

Escalation or cease-fire?

Russia's Vladimir Putin took an unpopular decision and mobilised 300k new conscripts to the army as Donbass holds a referendum on whether to become part of the Russian territory. Developed countries have been through a full-blown currency crisis which...
Video

'EM in 10' update - September 2022

Gustavo Medeiros, Ashmore’s Head of Research, answers some timely questions about recent events and performance in Emerging Markets for our 'EM in 10' monthly video review.
Weekly investor research

Ukraine takes back Kharkiv

The Ukrainian army regained a large territory in the Northeast as the Russian army fled direct confrontation. Argentina’s exporters increased sales of soybeans. Car production improved in Mexico, Brazil, and Argentina. China aggregate financing was...
Video

Outlook and opportunities in emerging market debt

Gustavo Medeiros, Head of Global Macro Research at Ashmore, shared his global macro-outlook views, as well as potential implications for Emerging Market assets, including China real estate bonds - at the Think Tank investment conference.
Weekly investor research

Chileans reject new constitution and Europe faces an energy crisis

European energy prices remain elevated as Gazprom shut down the Nord Stream 1 pipeline. The manufacturing PMIs again showed for a much more resilient picture across Emerging Market countries. Chileans rejected the new constitution. China grapples with...
Weekly investor research

Energy politics: regulating the temperature

Energy politics move again to the fore, while concerns about Ukraine’s nuclear power plant force rare agreement between Russia and Ukraine. Argentina posts good fiscal numbers and looks at its exchange rate. Brazil’s presidential election heats up...
Video

WEBINAR: Plague, War, Famine and the Fed.

The Four Horsemen of Macro Apocalypse, and Opportunities in Emerging Markets - How the four main headwinds for equities are fading and our view on where to be positioned.
Weekly investor research

Busy summer for policy-makers

The momentary easing in financial conditions seen in July is now behind us. Global economic challenges continue to demand a decisive response and policy-makers everywhere must make difficult choices. Europe is under pressure from high gas prices, while...
The Emerging View

The reality of ESG integration in Emerging Markets equity

Successful investing in Emerging Markets is inextricably linked to a deep understanding of Environmental, Social and Governance (ESG) factors. Developing countries are likely to face a disproportionate impact from some of the sustainability challenges...
Video

'EM in 10' update - August 2022

Gustavo Medeiros, Ashmore’s Head of Research, answers some timely questions about recent events and performance in Emerging Markets for our 'EM in 10' monthly video review.