The EM sell-off: buying opportunity? | beyondbrics:
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EM investors appear to be polarising, between those who think the sell-off since May is a mere taster of the great unwinding still to come, and those who think it is a buying opportunity. Richard Titherington, chief investment officer for emerging market equities at JPMorgan Asset Management, is among the latter. He has made this call before and, so far, he has been right.
Back in July, Titherington told beyondbrics that the sell-off in EM equities had been overdone and that at some point they would stage a recovery. It turns out the recovery was already under way. Since June 24, the MSCI Emerging Markets index has gained 13.4 per cent, rather better than the 7.9 per cent return on the S&P 500 (see chart above)."
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