In this episode, we sit down with Pete Kent, Portfolio Manager and Co-head of Emerging Market Fixed Income at Ninety One, to explore the concept of the "EMification" of developed markets. Pete shares his insights on the misconceptions surrounding emerging markets (EM), particularly in comparison to developed markets (DM), and explains how recent volatility and performance in DM resemble characteristics more commonly associated with EM.
Pete provides real-world examples, from the yen’s depreciation to the UK gilt crisis, highlighting how EM's resilience and orthodox behavior have challenged outdated perceptions. We also dive into key drivers behind EM’s recent outperformance, the evolving risk-return profile in global markets, and the new volatility regime in DM. This episode is packed with valuable insights for anyone interested in understanding the shifting dynamics between EM and DM and what it means for investment portfolios moving forward.
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