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As COVID-19 continues to spread, we want to assure you that Milltrust International, its affiliates have a comprehensive, regularly tested, Business Continuity Plan to ensure that the interests of our clients and our employees will continue to be served in events such as this. We can confirm that our operations and those of our underlying investment teams are still operating at full capacity. We will continue to take all necessary steps as the situation unfolds to safeguard the interests of our investors and employees and we will notify you of any changes.
As the contagion of COVID 19 and the correlated economic dislocation picks up pace throughout Europe and North America, signs that the virus has, for now at least, peaked and been contained in China, Hong Kong, Singapore, Taiwan and Korea points to the probability that Asia will be the key driver for the eventual recovery of the world economy. The boosting of domestic consumption is also key to China’s plans to resume the workings of the mainland’s twin levers of supply and demand, with designs and policies afoot to redirect the circa US$300 billion from the outgoing tourism industry back towards more sustainable domestic consumption, which should benefit a number of our investments.
With the contributions from our local specialist investment teams, we have compiled the following market updates:
China
Brazil
India
Korea
South-East Asia
Russia
Asia (Climate Impact Theme)
As per our track record, our Milltrust Global Emerging Markets portfolio typically only captures 70-75% of the downside of the main indices and this remains in line with our performance year-to-date as the EM markets approach a 30% loss for the first quarter of 2020. An important rule of thumb during these times of heightened volatility and investor panic is it to ensure that investors stick with high-quality names which is a key focus for our strategy.
Click here to read a message from Milltrust CEO’s on his views on COVID-19.
Click here to read an update on our Climate Impact Asia Fund amidst COVID-19.
Should you have any questions or concerns, please do not hesitate to contact us on [email protected].
Eric Anderson
Managing Partner – Milltrust International LLP
Portfolio Manager – Milltrust Global Emerging Markets Fund
Categories: News
Tags: Brazil China Climate Commentary EM Emerging Markets Impact India Latin America Russia