This Week's Strategy Espresso

ETF Education

A return to emerging market equities?

20 January 2020

Although 2019 was a strong year for global equity markets, we saw fairly high dispersion as developed markets outpaced emerging markets by a wide margin. That performance gap came about amid trade war fears and the impact on China, along with geopolitical tensions in Latin America and Hong Kong.

Emerging market equity valuations now appear modestly attractive relative to developed markets. And while some uncertainty persists, we see a range of potential catalysts that, if triggered, might allow investors to realise value.

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GMO 2019

2020 Global Market Outlook

We see global economic expansion continuing into 2020, led by the United States, with a potential boost from greater clarity in Europe. Here’s our outlook and the key signposts we’re watching in the coming year.