Erik Vynckier

Does a rising tide really lift all boats?  In the last 5 years clearly not all EM are doing well at the same time.  In the last big commodity supercycle uptake, a lot of commodity producing countries worldwide saw currencies appreciate, hard currency rise, and credit reserves fall.  If global growth picks up it might be more domestically-driven than cross-border trade-driven than in the past.

  

•Do security-specific analysis for performance

•Use major divergence as a spur for active management

•Anticipate a deglobalizing environment