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Infographic: How Have Macro Trends Shaped Emerging Markets
Emerging Markets (EM) equities are not a static asset class. While shifting macro trends have transformed EM, it remains a diverse universe with attractive opportunities for investors who use the right approach.
Fisher Investments (FI) is an investment adviser registered with the Securities and Exchange Commission. As of June 30, 2021, FI managed $187 billion, including assets sub-managed for its wholly-owned subsidiaries. FI and its subsidiaries maintain four principal business units - Fisher Investments Institutional Group (FIIG), Fisher Investments Private Client Group (FIPCG), Fisher Investments International (PCGI), and Fisher Investments 401(k) Solutions Group (401(k) Solutions). These groups serve a global client base of diverse investors including corporations, public and multi-employer pension funds, foundations and endowments, insurance companies, healthcare organizations, governments and high-net-worth individuals. FI’s Investment Policy Committee (IPC) is responsible for investment decisions for all investment strategies.
The information in this document constitutes the general views of Fisher Investments and its subsidiaries and should not be regarded as personalized investment advice or a reflection of the performance of Fisher Investments or its clients. We provide our general comments to you based on information we believe to be reliable. There can be no assurances that we will continue to hold this view; and we may change our views at any time based on new information, analysis or reconsideration. Some of the information we have produced for you may have been obtained from a third party source that is not affiliated with Fisher Investments. Investments in securities involves the risk of loss. Past performance is no guarantee of future returns. Data is in USD unless stated otherwise.
Top Left Source: IMF, as of December 2020.
Bottom Left Source: FactSet & MSCI, as of June 2021. MSCI Emerging Markets Index was introduced in 1988. Data shows market cap of MSCI Emerging Markets Index as a percentage of MSCI All Country World Index.
Top Center Source: FactSet, as of December 2020. Data shows change in relevant sector weight within the MSCI Emerging Markets Index between 2007 and 2020.
Bottom Center Source: FactSet, as of December 2020.
Right Source: FactSet, as of December 2020. The data set for a given year is the MSCI Emerging Markets Index constituent list for each year end, and the returns used are price returns. “Top 2 Best Performing Sectors Average” takes the arithmetic average of the top two performing countries in the MSCI Emerging Markets Index for a given year. The same concept is applied for “Bottom 2 Worst Performing Sectors Average.” The “Average Sector Spread” is the arithmetic average of the yearly spread between “Top 2 Best Performing Sectors Average” and “Bottom 2 Worst Performing Sectors Average.” The same methodology is applied for “Bottom 2 Best Performing Countries Average” and “Bottom 2 Worst Performing Countries Average.”