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- During the third quarter of 2021, the Polen Global Emerging Markets Growth Composite Portfolio (the “Portfolio”) returned -7.59% gross of fees outperforming the MSCI Emerging Markets Index (the “Index”), which returned -8.09%.
- Events in China significantly impacted emerging markets, namely increased regulatory scrutiny from policymakers and the well-publicized credit troubles surrounding real estate developer Evergrande.
- As has been the case throughout the year, emerging market equity sectors typically associated with being more cyclical or value in nature continued to outperform the broader market.
- Year to date, the only sectors in the emerging markets index to have delivered a positive performance are energy, financials, industrials, IT, materials and utilities.
- While emerging markets face additional health hurdles compared to their developed counterparts, we expect economic growth in emerging markets to accelerate at a fast pace as conditions improve. Therefore, we believe that the case for investing in global emerging markets remains bright and intact.
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