EM Equities: Sustainable development; Value via profitable dislocation

FIONA MANNING, FUND MANAGER, PREMIER MITON EMERGING MARKETS SUSTAINABLE FUND EM Equities – Global Sustainable Development: The path of growth in emerging markets is likely to be a winding one but we see opportunities aligned to global sustainable development priorities where we see a clearer outlook for the resumption of the capital investment cycle. We see a breadth of opportunities beyond those around climate transition – in energy efficiency, industrial productivity and upskilling, financial inclusion and improved health outcomes. The drive for rediversification of supply chains aligned to global geopolitical concerns has shone a spotlight on a more diverse range of emerging and frontier markets. RAND WRIGHTON, CFA, PORTFOLIO MANAGER, BARROW HANLEY EMERGING MARKETS AND NON-U.S. VALUE STRATEGIES After more than a decade of growth leadership in a small number of names, investors may have forgotten how an effective, disciplined value investing approach adds meaningful value in emerging markets over the long term by taking advantage of profitable dislocations at the country, sector, and company level. Historically within emerging markets, the strongest returns have typically come from having the courage to wade into meaningful controversies and buying cheap assets that have temporarily gone on sale. We will discuss how the current environment provides that same opportunity and having the flexibility to take advantage of those dislocations provides an effective way to profit in this inefficient asset class.