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Authors

  • 10/06/2020
    Equities
    Kunjal Gala
    On 9 June we held a webinar where Gary and Kunjal explain their responsibilities going forward and how they will transition to these roles. Kunjal also provides an outlook for emerging-market equities.
  • Gary Greenberg
    Climate change will test our ability to avoid mortal danger more than ever before. Humanity’s ability to adapt, something we have excelled at, must again come to the fore.
  • 25/11/2019
    Equities
    Gary Greenberg
    How is income inequality challenging the political stability and growth potential of major emerging markets?
  • 20/06/2019
    Equities
    Gary Greenberg
    Will the blacklisting of Huawei ignite an economic war between the US and China?
  • 14/03/2019
    Equities
    Gary Greenberg
    China’s emergence on the global stage poses a genuine threat to future US dominance
  • 24/01/2019
    Equities
    Gary Greenberg
    Emerging markets are broader – and better – than the crisis-stricken economies that dominated newsflow in 2018. But after a year of tumult, how will emerging markets fare in 2019?
  • 11/10/2018
    Equities
    Gary Greenberg
    In this issue of Gemologist, we assess the obvious weaknesses in EMs, the less obvious forces acting in their favour, explain how we have adapted to the turnaround in 2018 so far and present our convictions in selected portfolio companies.
  • 05/06/2018
    Equities
    Gary Greenberg
    From a distance, it is easy to conclude that Egypt is an arid environment for investors. Being only 0.13% of the MSCI Emerging Markets Index, the country is easily dismissed given its questionable democracy, high rate of inflation, recent currency devaluation and twin deficits. Look closely, and the conditions become more attractive: low labour costs, high literacy levels and a series of economic reforms suggest that real investment opportunities are shimmering on the sands. Key points 1. Since the global financial crisis, Egypt has suffered a difficult decade characterised by political instability and economic turmoil. However, President Abdel Fattah el-Sisi’s recent re-election should help to provide ongoing stability 2. Intervention by the International Monetary Fund in 2017, which resulted in a dramatic devaluation of the Egyptian pound, seems to have set the country on the road to economic recovery, with both debt and inflation being brought under control 3. A range of underlying factors, including energy self-sufficiency– thanks to recently discovered natural gas resources – a youthful demographic and extremely low labour costs, point to a positive future, if stability continues
  • 06/11/2017
    Equities
    Gary Greenberg
    Companies do not exist in isolation: they use resources from the commons, employ labour and attract customers from towns and cities, and are required to operate under the laws of the land. They influence the lives of far more people than shareholders alone, but unfortunately plenty of businesses act to the detriment of many – including, in the long run, themselves and their investors.
  • 26/09/2017
    Equities
    Gary Greenberg
    Environmental, social and governance (ESG) risks can incur harsh financial consequences for long-term investors in emerging markets. Integrating these risks into our investment decisions is part of our duty – for the benefit of our clients and the innocent bystander.
  • 27/01/2017
    Equities
    Gary Greenberg
    With Chinese New Year now upon us, Gary Greenberg, Head of Emerging Markets at Hermes Investment Management, gives his views on China, and what lies ahead in the Year of the Rooster.