Emerging Markets Income: December Monthly Commentary

3 minutes read time Over the month the fund gained 4.5% and finished the year at an all-time high. This brought the quarterly return to 6.2% and the full year total return to 19.3%. The fourth quarter distribution of £0.103238 was lower than last year partly due to our Korean companies that moved ex-div dates into the first quarter […]

Emerging Markets Income: October Monthly Commentary

3 minutes read time This month, Taiwan continued to deliver solid returns with notable performance from MediaTek on signs of stronger Chinese demand for mobile phones, as well as new AI related products.

Emerging Markets Income: September Monthly Commentary

3 minutes read time Taiwanese technology stocks led the portfolio’s gains in September, with Brazilian and South Korean holdings also performing well and remaining flat or positive. Read the full commentary from the Portfolio Manager, Robert Holmes, CAIA.

Emerging Markets Income: August Monthly Commentary

3 minutes read time Portfolio Manager, Robert Holmes, CAIA saw positive returns at sector level this month coming from real estate, energy, industrials and information technology. Robert saw most portfolio holdings this month report in-line or better than consensus earnings with only two positions that disappointed.

Emerging Markets Income: July Monthly Commentary

2 minutes read time In July the fund returned +3.1%. The strongest performance this month came from Kaspi in Kazakhstan and Emaar Development in the UAE, both have reported very strong second quarter earnings with increased guidance for the full year. The weaker end of the portfolio came mainly from Chinese holdings such as Sinopec, which has traded lower […]

Emerging Markets Income: June Monthly Commentary

3 minutes read time In June the fund returned +1.25%. We launched this fund with a relatively unorthodox objective for an emerging market equity strategy. Rather than looking to beat the typical EM benchmarks we looked to beat inflation, to generate a real income for investors on a sustainable basis. Of course this is a remit more typical of […]