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With the COVID 19 pandemic and oil price volatility remaining extremely fluid, we wanted to give you a quick update on how things are looking on the ground across the key areas in the Emerging Markets.
In our latest podcast (~10 minutes), Eric Anderson, the Portfolio Manager of the Milltrust Global Emerging Markets Fund, provides his thoughts and conveys the main messages from locally-based investment teams.
Listen to the Podcast here. Please note disclaimer below.
The Milltrust Global Emerging Markets Fund benefits from having over 150 investment professionals based locally in their region of expertise, they have over 2,000 years experience and have over 6,500 meetings a year with corporates, decision-makers, government officials, etc.. The information edge that this brings us allows us to understand how companies can operate their businesses in this environment and gives us added comfort that we are aware of the latest developments on the ground and therefore positioned appropriately. The portfolio currently trades at a P/E level of 11 times with an average long-term earnings growth rate of 20.1% vs. 12.0% for the MSCI EM index (Source: Bloomberg).
Our high conviction companies in our Emerging Markets Fund represent strong high quality businesses that will likely be the first ones to bounce back once things settle down. What is absolutely clear is that the current valuations of the EM equities asset class have brought about an incredible buying opportunity.
Disclaimer: Intended for qualified investors only. Any views expressed in the PODCAST are those of the author(s), are based on available information, and are subject to change without notice. Certain data provided is that of a third party. The data relating to the Milltrust Global Emerging Markets Fund is sourced from Bloomberg as of close of business March 25th 2020.
Tags: Brazil China Commentary EM Emerging Markets India Latin America Milltrust Russia