Pat Riley
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Emerging Markets Funds have seen a sharp decline in investor interest principally due to those markets having gone back into the woodwork. With the demise of BRICS and the less than stellar take up for an equally geographically diverse SMITS as a take-up, analysts are working hard to come up with a new term and geographically disparate country grouping acronym to leverage investor interest and confidence.
Frontier Markets has been suggested, but dropped when it was realised most Developed Markets are in fact now Frontier Markets by definition.
As a consequence of the above, tranche-1 EM Funds are selling like high grade radioactive waste which underlines our current view that there is only one market currently on the edge of doing anything remotely exciting (from a glossy presentation issuance perspective) and that is – Iran.
We’re going for the catchy Erupting Markets (and hope to widen the offering to include Cuba once momentum builds for Iran) to gain traction on the recent breakout of diplomatic love and kisses catching on in the most unlikely of places.
Sell BRICS. Find SMITS and tell him to come home as it never really caught on. Buy Erupting Markets.
Frontier Markets has been suggested, but dropped when it was realised most Developed Markets are in fact now Frontier Markets by definition.
As a consequence of the above, tranche-1 EM Funds are selling like high grade radioactive waste which underlines our current view that there is only one market currently on the edge of doing anything remotely exciting (from a glossy presentation issuance perspective) and that is – Iran.
We’re going for the catchy Erupting Markets (and hope to widen the offering to include Cuba once momentum builds for Iran) to gain traction on the recent breakout of diplomatic love and kisses catching on in the most unlikely of places.
Sell BRICS. Find SMITS and tell him to come home as it never really caught on. Buy Erupting Markets.
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