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Zach Riaz, director and investment manager of Banyantree Investment Group, said that about three years ago his team started reducing their broad EM exposure and adding more to India and China.
“Close to 70 countries can be put into the EM category – within that group there’s a big divergence in underlying themes, fiscal and monetary policies, growth profiles and currency dynamics,” Riaz said.
“We prefer to look at EMs from the bottom up because of that divergence of themes and you need to really dig deep into what is important in these markets.”
Underperformance of traditional emerging markets indexes was part of the reason they had changed that approach.
According to him, battery storage would need to be expanded by 300 times current capacity to meet expected 2050 requirements, after last week, US President Joe Biden announced that the US government would replace its fleet of 650,000 vehicles with electric models.
Chugh stressed that Biden had said he would “rally the rest of the world to meet the threat of climate change” and planned to take legislation to Congress that would set targets for large investment in clean energy, climate research and innovation.
“With the changes planned for the US economy, and the impact they will have in other countries, there is a clear-cut case for investing in the themes driving the future, which is where the ACDC fund is positioned,” Chugh said.