Seb Stewart, Head of US Institutional Sales, sits down with Kamil Dimmich, Portfolio Manager and Partner, North of South Capital LLP, to reflect on recent performance of the Pacific North of South Emerging Markets strategies in Q3.
In this video update, Seb and Kamil take a closer look at what’s been driving emerging markets, from quarterly performance trends to regional opportunities, shifting risks, and evolving portfolio positioning. Across four short conversations, they share insights on key themes and how the team is navigating today’s environment.
Video 1: Pacific NORTH OF SOUTH EMERGING MARKETS EQUITY
Q3 update: Introduction
In this introduction, Seb and Kamil unpack what’s been driving the two EM strategies’ outperformance this quarter, from AI and mining to a global shift away from the US dollar, and how these themes have shaped the portfolios.
Video 2: Pacific NORTH OF SOUTH EMERGING MARKETS EQUITY
What has been happening in Argentina?
Seb and Kamil discuss the recent political developments in Argentina and the resulting currency concerns. Kamil explains how the team has navigated the situation, how portfolio exposure has been affected, and the ongoing monitoring in place. Seb and Kamil also touch on the portfolio’s positioning in the UAE, once a key performance driver, but now a reduced area of exposure.
Video 3: Pacific NORTH OF SOUTH EMERGING MARKETS EQUITY
Where are you finding new ideas?
Kamil reveals where the team is finding new ideas, from South Korea to Latin America and South Africa. He shares his outlook for the next quarter, weighing whether emerging markets can sustain their strong start to the year.
Video 4: Pacific NORTH OF SOUTH EMERGING MARKETS EQUITY
How are you positioning the portfolio?
On the topic of portfolio positioning, Kamil highlights key pressures from geopolitics, headline risk, and US policy, and what they could mean for volatility. He explains why earnings growth now matters most, especially as China’s weak consumer backdrop lingers.
