3Q2021 – Global Emerging Markets Growth Commentary

While we acknowledge the risks in some Chinese companies have increased, we are still very optimistic about the investment opportunities.

Read the full commentary here →

  • 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.

Read the full commentary & disclosures here →