The investment ramifications of a multipolar world
Contrary to the rise of globalization and the commodities super cycle over the past 20 years, emerging markets now face a host of unique conditions that will help determine their attractiveness for investors.
The Janus Henderson Emerging Market Equities Team believe we have moved beyond "peak globalization" and are entering a new phase of deglobalization where investment returns will require active management, incorporating top-down country and bottom-up company analysis within a framework of both political and corporate governance.
The two pillars that drove EM returns over past decades ā outsourcing and convergence ā will, in the teamās view, increasingly be complemented by the emergence of innovation as a driving force of future returns.
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Key investment risks:
- The Fund's investments in equities are subject to equity securities risk due to fluctuation of securities values.
- Investments in the Fund involve general investment, currency, liquidity, hedging, market, economic, political, regulatory, taxation, securities lending related, reverse repurchase transactions related, financial and interest rate risks. In extreme market conditions, you may lose your entire investment.
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- The Fund's investments are concentrated in Asia Pacific (excluding Japan) and may be more volatile.
- The Fund may invest in emerging markets, China A-Shares/ China A-Share access products and may be more volatile, subject to risks of investing in China securities and the Stock Connect Programs.
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