Emerging markets

‘Prediction is Tricky, Especially about the Future’

Apr 22nd, 2014 | Filed under: Alpha Strategies, Emerging markets, Today's Post

Some respondents told Intralinks that Germany is a less attractive M&A target for international investors than it might be, due to the impact of rising energy costs there, especially on manufacturing.


Investment Views on Emerging Markets Exposure Brighten

Mar 24th, 2014 | Filed under: Emerging markets, Hedge Fund Industry Trends, Hedge Fund Strategies, Performance, Analytics & Metrics, Today's Post

Have the emerging market assets and the funds focused thereon warranted this return of confidence by their recent returns? The answer to this question can't be any more emphatic than, "yes, somewhat."


Managers and Skill: Japan, India, and the Arab World

Feb 2nd, 2014 | Filed under: Alpha Hunters, Alpha Seekers, Alpha Strategies, Emerging markets, Today's Post

A new report from GFIA highlights some asset manager successes: in the Japanese markets riding the wave of Abenomics; in India benefitting from the weakness of the rupee; and in the Arab world thriving against the backdrop of political turmoil.


Celent on a Turning Point in China: Three Trends

Jan 28th, 2014 | Filed under: Currencies, Emerging markets, Risk management, Today's Post

The need for risk management in general and, more specifically, the inability of HNW Chinese otherwise to hedge against RMB exchange risk, is driving them to invest overseas.


Sovereign Immunity and Global Discovery Demands

Jan 15th, 2014 | Filed under: Emerging markets, Insolvency, Today's Post

The U.S. Supreme Court has agreed to hear an appeal from a 2d Circuit decision in the long-running litigation between hedge fund NML Capital and the Republic of Argentina. Specifically, it is set to address whether a judgment against Argentina opens the door to discovery of Argentina's assets around the world, commercial and non-commercial alike.


Alternatives and Thailand’s Infrastructure

Jan 14th, 2014 | Filed under: Alternative Mutual Funds, Emerging markets, Infrastructure, Today's Post

Despite the uncertainties generated by contemporary politics, Cerulli is convinced that "investing in alternatives such as property and infrastructure funds should remain a major theme in the Thai mutual fund space in 2014."


The Global Economy in 2014 – 5 Key Trends

Dec 26th, 2013 | Filed under: Emerging markets, oil, Today's Post

Guest columnist Shane Brett looks at the year ahead.


A Bird’s Eye View of India’s Real Estate Development and Regulation

Dec 23rd, 2013 | Filed under: Emerging markets, Infrastructure, Real Estate, Today's Post

Guest columnist Sourabh Jeswani explains regulatory changes in India's real estate market and the opportunities these changes may offer.


Cerulli on the Zombie Apocalypse in China

Dec 22nd, 2013 | Filed under: Emerging markets, Institutional Investing, Today's Post

The numbers of undead mutual funds in China has created a sharp disparity between the fund count and the AUM count. Since no one ever drops out, the fund count only goes up.


Anti-Fragility: South African Central Banker on Dollar and Rand

Dec 9th, 2013 | Filed under: Conference report, Emerging markets, Forex, Today's Post

It is certainly true that a lot of foreign-denominated debt would worsen prospects for South Africa. But even in the absence of such a trap: can a nation boast of anti-fragility (or even, more aptly, of robustness) simply because it has the option of devaluation?


Japan, China, India: Two Big Exceptions and a Rule

Dec 8th, 2013 | Filed under: Emerging markets, Performance, Analytics & Metrics, Today's Post

Even after the worst of the U.S. debt ceiling crisis passed, concerns about the Yen and unsatisfactory second-quarter performance numbers weighed the Nikkei down.


Chinese Challenges and Waiting Games: Cerulli

Dec 1st, 2013 | Filed under: Emerging markets, Forex, Today's Post

The QFII advisory business will for tricky for the smaller fund management companies, because the private firms with which they compete there "tend to boast better investment teams."


The Billionaire’s Club: A 2013 Snapshot

Nov 25th, 2013 | Filed under: Emerging markets, High-net-worth investors, Timely Research, Today's Post

The average billionaire owns four homes. Though most billionaires are “still based” we’re told, “in the same locations where they were raised,” it must certainly be nice to have the three getaway locales.


Slow Growth and Much Tumult for India’s Mutual Funds

Nov 13th, 2013 | Filed under: Emerging markets, Retail Investing, Today's Post

A new report from Celent wonders why the mutual fund industry is growing so slowly in India, and why it is so over-represented in just five of the cities of the subcontinent.


Cyprus: The Land That Money Forgot

Oct 30th, 2013 | Filed under: Alpha Strategies, Emerging markets, Today's Post

Guest columnist Doug Friedenberg turns over a few rocks in Cyprus and finds that there might still be something left.


Argentina: Redefining the Gears of Default & Restructure

Sep 4th, 2013 | Filed under: Emerging markets, Insolvency, Today's Post

On August 28, President Cristina Fernandez of Argentina announced a new bond swap plan. Argentina will offer to swap its outstanding bonds, apparently either of the FAA or of the exchange bondholder vintage, with newly issued bonds that will not have the New York or U.S. law connections the older issuances did.


Three Crises that Will Dominate the Rest of 2013

Aug 30th, 2013 | Filed under: Emerging markets

Shane Brett looks at the remainder of 2013


PrevInvest on EM Funds and the Cycles of Hype

Aug 29th, 2013 | Filed under: Alpha Strategies, Emerging markets, Today's Post

The BRICs as a group have been a disappointment to those who thought they were at a take-off point at the turn of the millennium. In the cycles of investment-market hype, BRICs have been replaced by CIVETS. PrevInvest offers words of caution.


France Enters the Fray over Argentina’s Bonds

Aug 7th, 2013 | Filed under: Emerging markets, Insolvency, Today's Post

France has filed a brief with the U.S. Supreme Court making the case that a Second Circuit decision in the matter of NML v. Argentina "is based on an erroneous understanding of the meaning of pari passu clauses...." Why this is important.


Tolstoy, Happy Families and Asian Managerial Success

Jul 8th, 2013 | Filed under: Alpha Seekers, Alpha Strategies, Emerging markets, Hedge Fund Industry Trends, Hedge Fund Strategies, Today's Post

Asset managers within the Asian boutique universe keep telling GFIA that "asset raising is hard" in the present climate. It isn't going to become easy any time soon, but there is a new level of stability.


Allen & Overy Sides with Pari Passu Pessimists

Feb 26th, 2013 | Filed under: Alpha Strategies, Emerging markets, Today's Post

Allen & Overy’s white paper puts it among those who take a rather gloom-and-doom attitude toward the likely consequences of a recent Second Circuit decision on Argentina's default. Personally, I don't agree that the sky is falling on the sovereign debt market.


Africa: Equities and Beyond

Nov 26th, 2012 | Filed under: Emerging markets, Today's Post

One of the Africa-oriented hedge funds showcased, Altree, expects that as the African market matures short opportunities will become available. Another, Nubuke Africa Multi-Strategy, makes a point of limiting its exposure to South Africa and Egypt (presumably the two most tempting countries of concentration) to no more than half its portfoilio, to ensure that its investments will remain pan-African.


The Perils of Sterilization: Calvo (1991) Was Right

Sep 16th, 2012 | Filed under: Emerging markets, Today's Post

As Guillermo Calvo noted in 1991, one of the problems with sterilization is simply that the larger amount of government debt itself induces higher inflationary expectations "because sticking to a stable price level ... would make servicing the public debt excessively costly from a social and political point of view."