Emerging markets:
a cycle, not a trend

Emerging markets are complex and volatile, which can translate into an abundance of opportunity for active investment managers.

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. The investor may not get back the amount originally invested.

hours trading
each day
stock trades
free floating
of stocks move
by 40% annually

Source: BlackRock, June 2019 *all figures shown in USD

Emerging markets fast facts: how much do you know?

Emerging markets account for a combined 40% of global gross domestic product and almost 60% of the world's population.

Source: IMF World Economic Outlook, 30 April 2018.


Explore the emerging markets.
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Emerging markets:
our four focal points

Macro matters. We buy early cycle countries that are improving, and sell late cycle countries that are deteriorating.

Our macro-focus is part of our four-pronged approach to investing in emerging markets.
People & resources
People & resources
Diverse and empowered individuals with a consistent team process
Flexibility - Macro
Flexibility - Macro
Markets are cyclical and mean-reverting. We aim to capture turning points
Flexibility - Micro
Flexibility - Micro
Markets regularly misprice companies. We focus on fundamental stockpicking
Risk management
Risk management
Deliberate, diversified and appropriately scaled

Travel expands our horizons

Superior access
Access to high level diplomatic, political & company contacts
Time invested
Time invested & repeat visits draw out opportunities
4000 meetings
4000* meetings supported by BlackRock’s in house corporate access team

*Source: BlackRock, June 2019

A day in the life of Sam Vecht