Viewing the Recent Drawdown from a Historical Context

Emerging Markets have had a difficult year with market sentiment weighed down by concerns of global trade wars, US imposition of broad based tariffs on Chinese imports, and currency devaluations in Latin American Emerging Markets. We draw confidence from the strategy’s nearly 80 months of data and our analysis of the historical trends. Despite the veneer of volatility, the underlying market fundamentals appear strong and stable, which  differentiates this drawdown from other long EM market corrections.

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