Not Your Parents’ Emerging Markets, Martin Schulz, Federated Hermes
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The emerging markets have not been great for investors the past decade. But changes are afoot – not just in their composition but also in their prospects. 20 years ago, China represented just 1% of the EM Index while Latin America represented 30%. Today, China is 42% of the Index and Latin America only 7.5%. The shift in sector weights is equally telling. 10 years ago, Consumer Discretionary, Information Technology, and Communication Services combined to make up only 29% of the EM index. Today, they are now more than 52% having taken share away from sectors such as Energy, Materials, Financials, and Industrials. Investors who haven’t looked to Emerging Markets recently as a source of growth and innovation should look again.
Martin Schulz, Senior Vice President, Head of International Equity Growth Team, Senior Portfolio Manager. Responsible for portfolio management and research in the international and emerging markets equity area. Previous associations: Managing Director, International Equity, PNC Capital Advisors; Portfolio Manager, National City Corporation. B.A., (graduating magna cum laude) Cornell University; M.B.A. and J.D., George Washington University, Master of Strategic Studies, U.S. Army War College. A paratrooper, Martin was honored as a General MacArthur Junior Officer Leadership Award winner and retired from the U.S. Army Reserve as a colonel after serving more than 30 years in special operations. Joined Federated Hermes 2019; Investment Experience: 26 Years.