Fiera OAKS EM Select Strategy: A Three-Year Recap
We are pleased to report that the Fiera OAKS EM Select Strategy is approaching its three-year anniversary on 6th January, 2024. The Strategy has achieved significant success in its smaller emerging markets mandate, as detailed in this article through country-specific investment examples in Saudi Arabia, Vietnam and Greece.
Introduction
The Fiera OAKS EM Select Strategy was created and seeded by its Portfolio Managers, Dominic Bokor-Ingram and Stefan Böttcher, to capitalise on growth opportunities in emerging and frontier markets worldwide, excluding the six largest emerging markets as per the MSCI EM Index.
The focus on larger emerging markets, which now make up more than 80% of the benchmark, has been increasing over the last 15 years, while the attention given to smaller emerging markets, which are relatively under-owned by foreign investors and under-researched by investment houses, has been diminishing. As a result, stocks in the countries with strong reform-driven economies have been inefficiently priced.
With over 30 years of experience in emerging markets, the Portfolio Managers saw an opportunity to generate alpha by bottom-up stock selection in this universe, taking a benchmark agnostic approach in looking for growth in a low growth world.
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