For Institutional Investors in the US

All-Cap Emerging Market Equity

A style-agnostic emerging markets strategy that blends top-down macro analysis with bottom-up stock selection to identify attractive opportunities in a volatile asset class

Overview

Quarterly Update

Watch the investment team recap the quarter.

ABOUT THIS STRATEGY

Countries and corporations in emerging markets are at different stages of economic and political development and make choices that create significant opportunities and risks. We believe that investing in companies at the intersection of attractive country, governance and fundamental analysis enable us to deliver superior risk-adjusted returns.

INVESTMENT APPROACH

All-cap, style-agnostic portfolio

  • Seeks to identify the most compelling opportunities across countries and regimes in various stages of economic and political development
  • We broaden the investable universe by looking outside of the index and diluting state-owned enterprises (SOEs) to create a pool of best ideas

Robust approach focusing on the intersection of country, governance and fundamental analysis

  • Investment ideas exhibit an improving direction of travel in country, governance or fundamental analysis.
  • Governance is a crucial factor of our investment process. In our view, controlling shareholders often do not oversee the company in a manner that would benefit all shareholders and not all political regimes provide predictable rule of law

Disciplined portfolio construction

  • Stock selection is intended to be the primary driver of alpha
  • We look to understand a stock’s range of possible outcomes and overall risk contribution to determine portfolio positioning

Featured Insight

Equity Perspectives

Quarterly insight from our equity teams to help clients navigate the markets and opportunities ahead.

PORTFOLIO MANAGEMENT

Daniel J. Graña, CFA

Portfolio Manager, Emerging Market Equity

Industry since 1995. Joined Firm in 2019.

Performance

RETURNS (%) (As of 03/31/2021)
Composite Gross Composite Net MSCI Emerging Markets Index (Gross)
 
3M YTD 1YR Since Inception
(10/01/2019)
Composite Gross 3.41 3.41 70.16 28.10
Composite Net 2.96 2.96 67.27 25.88
MSCI Emerging Markets Index (Gross) 2.34 2.34 58.92 22.75
RETURNS (%) (As of 03/31/2021)
Composite Gross Composite Net MSCI Emerging Markets Index (Gross)
 
3M YTD 1YR Since Inception
(10/01/2019)
Composite Gross 3.41 3.41 70.16 28.10
Composite Net 2.96 2.96 67.27 25.88
MSCI Emerging Markets Index (Gross) 2.34 2.34 58.92 23.36

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