|September 20, 2019||
What is your outlook in Emerging Markets?
Our outlook for Emerging Markets has decreased slightly compared with the end of last quarter, but we are still on the positive side with strong macroeconomic and sentiment signals. Areas of concern include China’s August industrial production figures, fixed asset investment, exports, and retail trade, which all weakened. The recent spike in oil prices might also have adverse consequences on China's economy. Higher fuel prices might dent already-weakened consumers’ discretionary spending and add input costs in an already-weakened demand environment.
|December 30, 2018||
What do you make of the recent volatility in the market and how has it, or hasn’t it, impacted your outlook and investment decisions for the portfolios?
The recent volatility has not significantly impacted our outlook as our model has been indicating that the fundamentals of the U.S. economy are still relatively sound. As a result, the market volatility has served as an opportunity to tactically add some U.S. equity exposure at lower prices. We see this volatility as a reaction to uncertainty. However, the uncertainty has not materialized into impactful changes to fundamentals.
|January 3, 2018||
What attributed to your bullish outlook on emerging markets?
Emerging market equities were among 2017’s top gaining asset classes. Our model indicated a high score for the asset class led by its macro and sentiment components, which are among the highest compared to other international equity markets. Manufacturers and exporters in many Asian markets received a boost recently, benefiting from the upswing in the global tech cycle. As a result, manufacturing sentiment improved. Macroeconomic signals also increased in recent months, particularly leading economic indicators and retail sales.
For more commentary from CIO Patrick Jamin on the final quarter of 2017, Click Here
|September 20, 2017||
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