A seminar hosted at London’s Guildhall for investment professionals by Aubrey Capital Management and LarrainVial Asset Management, has heard how the narrative around emerging markets globally is shifting in the current investment environment.

With attendee speakers including Louis-Vincent Gave, Founding Partner & Chief Executive Officer at Gavekal, and Ignacio Briones, former Minister of Finance of Chile, the event - titled: Navigating Shifting Narratives in Emerging Markets - considered key macroeconomic shifts and regional policy developments are shaping the next wave of investment opportunities across Asia and Latin America.

Key points noted in the shifting narrative include:

  • A weaker US Dollar, stable oil prices, and dovish fiscal policy in China and Europe provides a positive back drop for Emerging Markets
  • Companies in China and India are driving innovation, benefiting from consumption-led growth across Emerging Markets and beyond
  • Latin American equity and bonds, supported by attractive valuations, stand to benefit from United States strategic retrenchment
  • Chile’s landmark pension reform signals political consensus around the importance of growth
  • Pedestrian index returns over the past 15 years underline the importance of investing actively in these markets

Other speakers (pictured) included John Ewart, Investment Manager (Aubrey), Camila Guzmán, Portfolio Manager (LarrainVial Asset Management), with panelist including Aubrey Founder and Investment Manager, Andrew Dalrymple, and Fernando Larraín C., President of LarrainVial. Anna Macdonald, Head of Private Clients at Aubrey, moderated the seminar.

Gave noted the rise of “Fortress America”. John Ewart provided a company-level view of the opportunities in Emerging Markets. Focusing on Asia, he emphasised the growth of domestic consumption in countries including India and China. Guzmán offered the case for Latin American Equities, describing the region as “under-owned, undervalued, and under-touched”. Briones gave a detailed presentation on Chile’s recent pension reform.

Delegates included representatives from the UK and Chilean governments, including Lord Roger Liddle, the United Kingdom’s Trade Envoy for the Andean region, and Her Excellency Ximena Fuentes, Ambassador of Chile to the United Kingdom.