Since the early 2000s, policymakers in emerging markets have been concerned about “waves” of international capital flows into their countries. As Kristin Forbes, a professor at MIT’s Sloan School of Management, pointed out at the Investing in Emerging Markets 2012 conference, “Volatility of capital flows is here to stay, and there are no magic bullets.”
Because many emerging markets are either commodity producers or exporters, it seemed likely to me that emerging markets would be beholden to the health of the developed (importing) world — which of course has massive excess debt. While this is certainly true for some markets, I was pleasantly surprised to learn that the scope of opportunity in emerging markets is much larger than I had expected.
The world population has surpassed 7 billion people. As inhabitants of Earth first, and investors second, should we be concerned? According to economist and demographer Richard Hokenson the answer is no. Instead, we should be concerned that the world population is projected to shrink as it ages — and as a result the global labor force will soon be declining.
With much of the developed world in a sovereign debt crisis, what implications will this have on your portfolio risk profile, benchmark, and asset allocation? Having spent his entire career in emerging market and non-U.S. investments, Jeffrey P. Davis, CFA, describes what he believes is a fundamental shift in the global market portfolio.
Helga Birgden discusses responsible investing practices in Asia Pacific and makes a comparison with those in Europe and North America. She also addresses the latest trends in ESG investing globally and in Asia Pacific and the implications for the investment industry, as well as other pertinent issues.
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