Emerging Markets | May 31, 2019
Growth and Income Investing in Emerging Markets – The Trend Continues
Since the start of the millennium, emerging market companies paying high and growing dividends have significantly outperformed the asset class. Over this time, almost half of the total return from Emerging Market equities (EM equities) has come from dividends. The MSCI EM price index has risen by around 60% in USD, while the total return index has risen by about 115%.
Dividend Yield and Growth by Quintile
| Annualised Return since 2000 | |||||
| Q*1 | Q*2 | Q*3 | Q*4 | Q*5 | |
| Dividend Yield | 17.0% | 12.0% | 7.4% | 3.8% | 1.9% |
| DPS Growth | 10.6% | 12.6% | 11.3% | 8.1% | 4.8% |
USD returns with Q*1 = Quintile 1. Quintile 1 is the top 20% of the universe ranked by dividend yield or dividend growth. Q*2 is the next 20% and so on.
Source: Fiera Capital, Citi Group as at 29 Mar 2019
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