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In this abridged interview, Christine Tan, Senior Portfolio Manager with Excel Investment Counsel Inc. ("EIC"), and the lead Portfolio Manager of the first quartile performing Excel Emerging Markets Fund, shares the firms's vision about EM; explains why she believes the future of investing belongs to EM; and describes how she manages money to generate the highest possible risk-adjusted returns for investors. Dwarka: Why does EIC…
Major stock indexes across emerging markets actually traded higher in the immediate aftermath of the Federal Reserve’s decision to leave its benchmark interest rate at the record-low level of 0.25 percent. Evidence of this positive response was reflected in Excel Funds’ suite of investment products. The Excel Emerging Markets Fund traded up 1.24 percent for the week ending September 18 2015, while the Excel India…
Dollar Strength Based on Interest Rate Divergence The Federal Reserve (the “Fed”) is on the verge of hiking American benchmark interest rates for the first time since June 2006. The central bank was forced to cut the Fed funds rate to an all-time low of 0.25 percent following the credit crisis of 2008. Since then, the U.S. economy has steadily climbed out of recession, prompting…
Emerging markets have contributed more than 50% of the global GDP growth over the last 20 years, a significant accomplishment, given the doubling of global GDP during this period. This contribution is forecast to increase over the next few decades as a result of superior economic growth from emerging market nations. India and China’s emergence as global economic giants will in turn produce growth for…
Leading finance officials in India remain confident that the economy there will be largely unscathed by recent turmoil in global financial markets. Fundamentally, the country is on firm footing with both production and consumption at elevated levels compared to its peers and inflation under control. Also, India’s SENSEX is still up 4.71% YTD despite outflows, exhibiting much resilience¹.
Foreign Direct Investment (FDI) in China picked up substantially last month to reach a year-over-year pace of 22%, according to the Ministry of Commerce. This number dwarfs figures recorded for both May and June, which came in at 7.8% and 5.2%, respectively. The August data is also a strong indicator that fears of a full-fledged slowdown in the world’s second largest economy may be overdone.
Since his election victory in May 2014, Narenda Modi has been true to his words to urbanize India over the next decade. Under his leadership, anti-business regulations have been relaxed, opening the door to foreign companies such as Samsung and Airbus.
Despite persistent talks of a slowdown, latest figures from the World Economic Forum show China’s voracious appetite for commodities is still very much intact. Metals used in construction, such as aluminum and copper, came in at the top of the list, where China’s share of global consumption stood at 54% and 48%, respectively.
Worries of a hard landing in China seem to be unfounded. Admittedly, gone are the days when the economy would post blockbuster, double-digit GDP figures, but growth ranging from 5-6% is still enviable in the current global climate as the consumer story there continues to develop.
The Canadian equity market is highly concentrated in three sectors - and is relatively small compared to other markets. Yet investors choose to maintain a “home country bias,” foregoing the opportunity to diversify their investments and enhance their returns. The case for global investing is two-fold: diversification and greater opportunities. In the case of diversification, the Canadian stock market accounts for just over 3% of total…
Canadian investors have historically maintained a home country bias on the belief that domestic companies will perform better than foreign companies and that foreign companies are riskier than domestic companies. The home country bias is particularly evident when it comes to emerging markets, which have not only outperformed developed markets over the long-term but are also less risky. Arguably, the home country bias is demonstrated…
Taking a balanced approach to investing in emerging markets is critical to getting the highest possible risk-adjusted returns, while minimizing risk.


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