Ashmore Research Highlights – June 2024
1: Ashmore live from India: Election result and its ramifications for the economy and stock market
Rashi Talwar Bhatia , CEO of Ashmore India, speaks live from Mumbai where she views the election result as reassuring and testimony to India’s institutional framework. Rashi also believes the stock market will now refocus on company fundamentals which bodes well for active managers.
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2: Webinar Replay: Local currency bonds: Still undervalued, still under-owned?
Cemil Urganci (Head of Local Currency) and Gustavo Medeiros (Global Head of Research) discuss the opportunities they see in Local Currency Bonds.
The discussion covers their views on the topics below, and more:
Watch the replay here: https://www.ashmoregroup.com/insights/webinar-local-currency-bonds-still-undervalued-still-under-owned-18jun24
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3: Live at the SUB-ICs: Elections in South Africa: A new GNU
It’s been exactly 30 years since then-President Nelson Mandela enabled South Africa’s transition from an apartheid white-minority government to a democratically-elected government by bringing several political parties together to form a ‘Government of National Unity’ (GNU). After losing its majority in this year’s elections, Mandela’s African National Congress (ANC) recently created a new GNU.
Read the possible market outcomes in the latest instalment of our ‘Live at the Sub-ICs’ series: https://www.ashmoregroup.com/insights/elections-south-africa-new-gnu
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4: Emerging View: The untold story of improving EM fundamentals
Since the Covid shock, high global inflation, aggressive US fiscal expansion and a strong dollar have created a challenging environment for Emerging Market (EM) countries.
Unsurprisingly, in the year following the outbreak of Covid, nearly all EM sovereign credit rating actions were negative. However, since then, EM debt has outperformed, despite a difficult backdrop as, under the hood, fundamentals have been improving.