Julian Thompson, Fund Manager of the AXA Framlington Emerging Markets Fund Opportunities in Emerging Market equities 17627 09/13 This communication is for professional advisers only and must not be relied upon by retail clients. Circulation must be restricted accordingly.
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Julian Thompson, Fund Manager of the AXA Framlington Emerging Markets Fund
Opportunities in Emerging Market equities
17627 09/13
This communication is for professional advisers only and must not be relied upon by retail clients. Circulation must be restricted accordingly.
Global Emerging markets – where are we?
Cost of capital now rising globally as US economy recovers
Increased pressure on emerging market central banks to raise rates as capital
flows out
Most emerging economies are in good shape but there may be some
AXA Framlington Emerging Markets (net) in GBP MSCI Emerging Markets
Performance (%) net in GBP YTD 1Yr 2Yrs 3Yrs 5Yrs
AXA Framlington Emerging Markets UT Net GBP 0.4 7.0 -4.7 5.8 27.8
MSCI Emerging Markets NR GBP -2.0 5.4 -5.0 6.5 34.3
Excess over comparative benchmark 2.4 1.7 0.3 -0.7 -6.4
Quartile vs IMA Global Emerging Markets 2 2 2 2 3
Disclaimer
This communication is intended for professional advisers’ use only and should not be relied upon by retail clients. Circulation must be restricted
accordingly. Any reproduction of this information, in whole or in part, is prohibited.
This communication does not constitute an offer to sell or buy any units in the Fund. Information relating to investments is based on research and analysis
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Group of Companies which, in turn, may have acted on it. Whilst every care is taken over these comments, no responsibility is accepted for errors and
omissions that may be contained therein. It is therefore not to be taken as a recommendation to enter into any investment transactions.
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Information relating to investments may have been based on research and analysis undertaken or procured by AXA Framlington for its own purposes and may
have been made available to other expertises within the AXA Investment Managers Group, who in turn may have acted upon it. Information in this document
may be updated from time to time and may vary from previous or future published versions of this document.
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