For the last 10-15 years we have seen emerging markets grow faster than developed markets. Find out why Portfolio Manager, Amit Goel still thinks that will be the case going forward.
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Transcript
Emerging markets have always shown a higher trend line growth verses developed markets. If you look back for the last 10, 15, 20 years, you have countries like China, India, Indonesia going well above the trend line growth which we have seen in developed markets. I believe in the next 5, 10, 15 years that will still be the case. Even if China slows down a little bit. If India slows down a little bit, versus what it has done over the last 15, 20 years, you will see these countries India, China, Indonesia, Philippines, Mexico, going well above the trend line growth of what we see in developed markets. But for us as an investor in emerging markets, we look at emerging market as a very heterogeneous asset class. These countries are very different in their social structure, their demographic structure, their economic structure to each other. And what we focus on are the opportunities within these different countries, within emerging markets. For example, if you look at India, we believe Indian middle class and financial inclusion of Indian middle class, can grow even higher than the Indian GDP overall. Similarly, in China, the consumption of middle and upper middle class in China can grow much faster than the country itself. So what excites us about emerging markets growth is not just the trend line growth of these economies, but the underlying growth of various part of these economies, which we believe have a very structured long-term growth opportunity for us.
