Versatility is Key to Emerging Markets

Investors who put money into emerging markets at the start of 2013 have had a miserable time. While shares in developed country markets forged ahead on continuing evidence of economic upturn, emerging markets went into reverse, on what is now a wearisomely familiar set of excuses: disappointment over macro-economic data, volatility (any remotely concerning turn of events world-wide is the trigger for sell-off) and capital repatriation to Western financial markets on expectations that interest rates are likely to rise sooner than expected.

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-Igor P Purlantov