Are we at the dawn of an emerging-market golden age, similar to 2001-2005? After a strong performance in 2017, question persists as to whether they can continue delivering this level of performance in 2018 and in the coming years, despite the upcoming heavy political agenda. One thing is certain: in a universe where risk-reward differs completely from one country/asset class to the other, selectivity will remain key as will flexibility and active risk management.