China allocations have recovered from the lows, but momentum has stalled—masking active shifts beneath the surface.
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Emerging Markets Fund Performance & Attribution, Q3 2025 Active Global Emerging Market funds are delivering strong absolute performance in 2025, with average returns of 26.0% year-to-date – on track for their best calendar year since 2017. This strength is somewhat overshadowed by the benchmark’s 27.8% gain, translating to underperformance of -1.8% on average. Just under 40% of active EM …
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The Big Picture: Emerging Markets Fund Positioning Update In this report, we take a deep dive into active EM fund positioning — across regions, sub-regions, countries, sectors, and stocks — highlighting the key dynamics shaping capital allocation in emerging markets. We begin with headline positioning trends across major regions and sub-regions, before examining the five core areas of EM …
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338 GEM Equity Funds, AUM $450bn HDFC Bank Limited Record Ownership and Dominance Among EM Financials HDFC Bank has cemented its role as the dominant emerging market bank holding, with ownership at a record 71% of EM funds — the highest in our 17-year history. Broad-based inflows and strong conviction from Growth managers have reinforced its status, while the post-merger …
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339 emerging market Funds, AUM $444bn Active GEM Funds: Positioning Analysis, July 2025 Regional Trends South Korea: Rebounding as Underweight Narrows Reversal in Progress: Indonesian Financials Lose Their Shine Stock Analysis Alibaba Group Holdings: Back Towards the Highs Ambev SA: Establishing a Base AngloGold Ashanti Limited: Building on Momentum Zomato Ltd: Hitting a Plateau Turkcell Iletisim: Back on …
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339 emerging market Funds, AUM $440bn GEM Funds: Performance & Attribution Analysis, H1 2025 Headline returns: Active GEM funds returned an average of 14.7% in H1 2025, slightly behind the 15.6% return from the iShares MSCI EM ETF. 42.3% of active funds outperformed the benchmark. Value led the way: 84.9% of Value funds beat the benchmark with an average …
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340 emerging market Funds, AUM $420bn Active GEM Funds: Positioning Analysis, June 2025 LATAM: The Conviction Overweight in a Benchmark-Driven World In this analysis, we review Latin America’s position within EM portfolios, where 85% of funds remain overweight relative to the MSCI EM benchmark. Allocations have eased from early-2024 highs but remain well above post-2020 lows. At the country …
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339 emerging market Funds, AUM $410bn Active GEM Funds: Positioning Analysis, May 2025 Regional Trends EMEA: Rebuilding A PresenceAlcoholic Beverages: Losing Their Appeal Stock Analysis MercadoLibre, Inc: High Growth Funds Push Exposure to Record LevelsPinduoduo, Inc: Heavy Reversal in Key HoldingNaver Corp: Bounce From the LowsLocalisa Rent A Car: The Selling ContinuesBSE Ltd: Index Inclusion Forces Investors to Buy Click …
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343 emerging market Funds, AUM $410bn Active GEM Funds: Positioning Chart Pack, April 2025 Regional Trends Brazil Financials: Losing Ground Amid Global Financials Rotation Poland: Rotation Builds as Positioning Hits Record Highs Stock Analysis Wal-Mart de Mexico: Continued Downside Momentum Industrial & Commercial Bank of China: Signs of a Turnaround? United Microelectronics Corp: Heavy Exodus China Hongqiao Group: Rebuilding …
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345 emerging market Funds, AUM $422bn Active GEM Funds: Positioning Chart Pack, March 25 Regional Trends China & HK: A Structural Underweight, but Signs of Stability MENA: Underweight, But Growing in Stature Stock Analysis Stock Rotation: China & HK Stocks Take Centre Stage Gold Miners: Off the Radar Samsung Electronics: Approaching 10-year Lows Thailand Banks: Selective Rotation Takes Hold …
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