Emerging Markets: September Monthly Commentary
2 minutes read timeDuring Q3, the strategy underperformed the MSCI Emerging Markets index by 2.4%, reversing some of the year’s earlier outperformance. The relative lag occurred during August and September, when we found our stock selection turning into a persistent headwind. It is worth highlighting that the weaker returns were not driven by our overall AI exposure or lack thereof, with the bulk of the reversal coming from outside the AI hardware supply chain.
Emerging Markets Income: September Monthly Commentary
3 minutes read timeIn September the fund gained 0.3% in GBP terms. Over the month Taiwan and Brazil were the leading contributors whilst China was the heaviest detractor. At the sector level Technology and Energy led, with Consumer Discretionary and Materials the weakest.
Pacific North of South EM Video Update – Q3 2026
< 1 minute read timeHear from Seb Stewart, Head of US Institutional Sales and Conrad Lee, Senior Analyst at North of South Capital, as they discuss key EM themes and performance from the previous quarter.
Emerging Markets: August Monthly Commentary
2 minutes read timeDuring August the fund lagged the MSCI Emerging Markets index by 2.9% despite delivering a positive absolute return. This r.has somewhat reduced our year-to-date outperformance after a strong start to the quarter.
Emerging Markets Income: August Monthly Commentary
3 minutes read timeIn August the fund gained 1%, led by Korea and Taiwan. China was the weakest market, driven by disappointing macro data. At the sector level Technology and Materials rebounded, whilst both consumer sectors were the weakest.
Emerging Markets: July Monthly Commentary
2 minutes read timeDuring July the Strategy outperformed the index by 1.9% even as investors got jittery about the AI trade. The greatest positive contribution came from our stock selection in Korea as well as exposures in China and smaller markets such as Argentina, Thailand and Poland. This was offset by stock selection in Taiwan where second-line stocks […]
Emerging Markets Income: July Monthly Commentary
3 minutes read timeOver the month the fund gained 1.4% in GBP, the best country performance came from China and Hong Kong, the weakest was South Korea. Consumer Discretionary was the strongest performing sector and Industrials the weakest.
Emerging Markets: June Monthly Commentary
3 minutes read timeDuring Q2 2026 the strategy outperformed the MSCI Emerging Markets index by 1.8%. The quarter was characterized by a strong equity recovery after a March correction in response to the war in Iran.
Emerging Markets Income: June Monthly Commentary
3 minutes read timeOver the month the fund retraced by 3.75% in GBP. The strongest markets were Saudi Arabia and Thailand; the weakest was China. The best performing sector was Industrials and Consumer Discretionary the weakest. Year to date the fund has returned 19.5% which is behind MSCI Emerging Markets.
Pacific North of South EM Video Update – Q2 2026
< 1 minute read timeHear from Seb Stewart, Head of US Institutional Sales and Kamil Dimmich, Portfolio Manager and Partner at North of South Capital, as they discuss key EM themes and performance from the previous quarter.