Emerging Markets

MENA’s Next Phase: Structural Adoption and the Rise of Regional Anchors

Active GEM Funds: Performance & Attribution 2025

China & HK Industrials: EM’s Key Overweight Grows Stronger

• China Industrials capture fresh inflows, cementing its position as EM's largest overweight.

Materials: The Recovery Trade

• South Africa and China drive Materials Rebuild

China & HK: Rebuild Slows Amid Heavy Sector and Stock Rotation

• China allocations have recovered from the lows, but momentum has stalled—masking active shifts beneath the surface.

GEM Equity: Q3 Performance & Attribution Analysis

• The drivers of absolute and relative performance for EM active funds so far this year

The Big Picture: Emerging Markets Fund Positioning Update

• A deep dive into active EM fund positioning - highlighting the key dynamics shaping capital allocation in emerging markets.

HDFC Bank Limited

• Record Ownership and Dominance Among EM Financials

Active GEM Funds: Positioning Analysis, July 2025

• South Korea: Underweight Narrows
• Indonesian Financials: Reversal in Progress
• Stock Analysis: BABA, Ambev, AngloGold & More

GEM Funds: Performance & Attribution Analysis, H1 2025

• Value funds outperform; 84.9% beat the benchmark
• China posiotioning a drag on performance
• MercadoLibre and SK Hynix boosted active returns

LATAM: The Conviction Overweight in a Benchmark-Driven World

• Conviction grows that Latin America is underrepresented in EM benchmarks.

Active GEM Funds: Positioning Analysis, May 2025

• EMEA: Rebuilding A Presence
• Alcoholic Beverages: Losing Their Appeal
• Stock Analysis: MELI, PDD, Naver & More

GEM Funds: Positioning Chart Pack, April 2025

• Brazil Financials: Losing Ground
• Poland: Rotation to All-Time Highs
• Stock Analysis:  Wal-Mart, ICBC, Indian Hotels and more...

GEM Funds: Positioning Chart Pack, March 2025

• China: Structural Underweight Shows Signs of Stability
• MENA: Underweight, But Growing in Stature
• Stock Analysis:  China's Winners, Gold Miners, Samsung Electronics, Thai Banks

Xi’s Champions: A Closer Look at Fund Positioning

• From BYD to Qi An Xin Technology Group, we look at the trends in ownership among President Xi's business Champions.

GEM Funds: Positioning Chart Pack, Feb 2025

• Malaysia Recovery
• Greek Financial Highs
• Stock Insights: Sea Ltd, Banorte, Xiaomi and more!

GEM Funds: Positioning Chart Pack, Jan 2025

• 10 Key Themes for 2025

GEM Funds: Performance & Attribution, 2024

• GEM Funds Aligned with Benchmark
• Yield and GARP funds outperform
• LATAM Drags on Performance

EM Positioning Insights, December 2024

• South Korea: New Lows
• Real Estate: Rotation Begins
• SA Financials: Momentum Continues