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Urjit Patel’s first major decision as central bank governor was to cut interest rates by 25 basis points, to 6.25 percent, the lowest level since 2011. Indian stocks rallied shortly after the news broke, signalling the market’s general approval. With the Consumer Price Index (CPI) trending downwards, from 6.07 percent in July to 5.05 for the month of August, a rate cut was widely expected,…
Darren Gazdag SVP of Business Development Excel Funds Management Inc.   Regular readers of Wealth Professional are no stranger to Excel Funds, one of Canada’s leading providers of emerging market funds. As low yields become the new normal in Western nations, investment in high-growth economies abroad looks increasingly attractive. “The general acceptance of emerging markets has improved dramatically,” says Darren Gazdag, Excel Funds’ Senior Vice President…
Reason 1: Emerging Markets Still Offer the Highest Growth and Income Opportunities Year-to-date the MSCI Emerging Market Index is up 8.91 percent, compared to a return of 0.09 percent, for the MSCI World Index and 2.32 percent for the S&P 500 Index.¹ These returns largely track company earnings, making it clear that emerging markets currently offer the highest growth potential for global investors. Furthermore, in…
An Asset Class Too Large to Ignore With a market value of approximately US$1.4 trillion, the Indian fixed-income market is one of the largest in Asia and not far off the Canadian bond market, which is estimated to be somewhere in the region of US$2 trillion in size.¹ What’s more is, the lion’s share of the Indian bond market is government issued or backed securities,…
India’s telecommunications market is about to undergo a major disruption. On September 1, 2016, billionaire Mukesh Ambani, announced that one of his companies, Reliance Jio Infocomm Limited, will offer the world’s lowest rates for 4G internet data, as well as free mobile phone calls, putting pressure on existing carriers to follow suit or prepare to give up a significant portion of their market share. Mr.…
It’s official. Indian stocks have entered a new bull market phase. From mid-February, 2016, through till the end of August, the BSE Sensex Index has returned 22 percent, according to Bloomberg data.¹ The catalysts are well known at this stage: Above-normal monsoon rains, following two years of drought; A pay hike for government workers intended to help boost consumption; Strong recovery in corporate earnings, with…
The Standout Performer So Far This Year The Olympics are over now, but Brazilian equities are still gunning for gold in 2016, having already provided investors with some of the best returns so far this year. Since the beginning of January through August 19, 2016, Brazil’s Ibovespa Index is up 54.9 percent, compared to a 13.9 percent gain for the TSX Composite, and a loss…
Introducing Urjit Patel After months of speculation, the long-awaited decision as to who will replace Raghuram Rajan as central bank Governor has finally been made. On August 20, 2016, Urjit Patel was appointed new chief of the Reserve Bank of India. A long-time colleague of Prime Minister Narendra Modi, Mr. Patel is viewed as a market-friendly successor, that will augment the government’s macroeconomic policies. While…
The Current State of Global Markets: Investors Say ‘No’ to Record-Low Yields Developed markets, for example the U.S., Canada and the UK, currently offer little to no yield for income-seeking investors. In fact, over US$10 trillion in government debt actually sport negative interest rates.¹ As a result, investors have been turning en masse to the emerging markets in search of greater yields, and the data…
Just when investors thought India could not grow any faster, the new Goods and Services Tax (GST) is projected to help boost the world’s fastest-growing, major economy by as much as 2 percent, according to Finance Minister Arun Jaitley.¹ On August 3, 2016, the bill passed in the Upper House, with an overwhelming 197 members in favour of the new bill, out of a total…
India’s monsoon is currently delivering heavy rains across most of the country, particularly central India. Investors often wonder why this is so important. Specifically, GDP growth rate could increase to over 8 percent for the current fiscal year, on the back of a strong monsoon season. This is incredible, considering that India already holds the title of the world’s fastest-growing major economy at 7.6 percent.¹…
Latin America... Refocusing on FundamentalsLooking Beyond the Turmoil in the Pursuit of Long-Term Growth Opportunities Firstly, let's get some of the noise out of the way. Latin America, has seen better days. Brazil, which accounts for around 55 percent of the region's market cap, has been in political disarray over the past several months. Media coverage surrounding localized diseases and ill preparedness for the Olympics,…

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