Emerging Markets investing: Seeking higher growth opportunities, not an asset class
Dominic Bokor-Ingram, Senior Portfolio Manager of Fiera Capital’s Emerging and Frontier Markets Strategies, recently spoke to Rich Mullen, CEO and Founder of Pallas Capital, and Pallas Capital Advisors Chief Investment Officer Garav Milnick, on how he thinks about geopolitics in the context of Emerging Markets investing with his over thirty years industry experience.
Dominic, let’s dive into your background a little bit, before entering the investment industry and what attracted you to work and spend time in the emerging markets.
I guess you could say my emerging market journey began in 1978 when I visited Hungary for the first time as a 10 -year -old boy. My father’s Hungarian and left Hungary in the 1956 uprising.
And by sheer coincidence, my financial career started in the city of London in 1989, which was the year the Berlin Wall fell. I was working in closed-end funds initially, and most closed-end funds invest in emerging markets Pretty soon I found myself in the middle of the start of massive change in Eastern Europe, both economically and socially. It also saw the opening up of a lot of stock markets across Russia, the former Soviet Union and Eastern Europe. Having a personal interest and understanding the context of the region, I became very quickly the Eastern European specialist at the firm.
And that was really my introduction to emerging markets, and I’ve never left. The first Eastern European market I invested in was Hungary in 1992, which was the first post-Eastern bloc country to open a stock market, closely followed by Russia in 1993. And I spent most of the 1990s investing in debt and equity markets across Eastern Europe.
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