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Global Emerging Markets Equity: Outlook 2024

Well positioned for a rebound in EM growth stocks

27 November 2023 |
Active ESG
The GEMs Strategy is biased towards growth and quality stocks while being selective on value, and the team believes the recent outperformance of value stocks vs. growth is unsustainable. The Outlook 2024 report outlines how the Strategy is well positioned to generate long-term value.
GEMs Equity Outlook 2024

Fast reading

  • While inflation will moderate, it is unlikely to stay at a lower level unless sticky supply-side constraints are resolved. We believe interest rates are unlikely to return to ultra-low levels. As a result, the cost of capital is likely to remain higher.
  • Higher borrowing costs will have an impact on credit-led growth, and the cyclical boost to the global economy will suffer to some extent. However, select emerging economies in Latin America and Eastern Europe will likely pursue a favourable monetary policy to boost economic activity and asset valuations.
  • We remain constructive over China’s medium- to long-term prospects as its economy transitions from a resource-driven and debt-based model to a higher value-added and sustainable growth model.

For further information on Global Emerging Markets Equity please click here.

GEMs Equity Outlook 2024

GEMs Equity Outlook 2024

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