by Tom Delic
An investor in Emerging Market (EM) equities over the last 12 years has had a torrid time. The asset class has not only suffered poor returns in both absolute terms since 2010, but also relative to Developed Market (DM) equities, with the latter being driven by the strength of the US equity market.
- Global equities fell 2.0% last week
- The World Bank became the latest body to downgrade their global growth forecast and openly warned about the risk of stagflation, now projecting a 2.9% rise in GDP for 2022 compared to a 4.1% estimate in January
- Brent crude rose 2.8% to $123.1 a barrel
- Gold fell 0.1% to $1848.8 per ounce.