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To see true potential you need to look at things differently.

GLOBAL EMERGING MARKETS

A different perspective

With growing demand and high entry barriers, Global Emerging Markets have plenty of scope to grow.

Penetration rates for goods and services are low and the high level of informality in emerging market countries often raises the barriers to entry substantially. This facilitates a benign competitive environment, allowing dominant companies to generate high margins and strong free cash flow."

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Meet the manager

A short insight into how Rasmus Nemmoe, Portfolio Manager, thinks about life and investing.

About the strategy

A behind-the-scenes look at the investment philosophy for the Global Emerging Markets investment strategy.

Investment Information

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How we invest

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Diversified and differentiated

The broad Global Emerging Markets universe provides diversification, while bottom-up stock selection and high active share^ differentiates our portfolios from the benchmark index.

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High conviction investments

A focused portfolio of 40 to 50 companies ensures that only the highest conviction investment ideas are included.

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Integrated ESG analysis

ESG analysis, shareholder engagement and proxy voting is fully integrated into the investment process.

Investment themes

FSSA’s Global Emerging Markets portfolios are built company by company from the bottom up, with little regard for index positioning.  We are focused on growth in an absolute return* sense and construct portfolios of high quality companies with effective management teams, long-term, sustainable growth drivers and strong financials. With low penetration rates for goods and services, and barriers to entry which protect profits and cash flow, the leading companies in the region have a good track record of compounding earnings and creating long-term value for stakeholders.

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Dominant consumer franchises

With favourable demographics and populations that are still growing – particularly in Southeast Asia and India – we believe dominant consumer franchises can offer good growth potential over the long term.

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High quality financials

As income levels rise, credit penetration in emerging markets will increase. We aim to back the most efficient and risk-aware financial franchises to gain market share through the cycles.

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Strong alignment, innovative culture

Decisions taken by company management in both good and bad times can significantly affect its long-term outlook. We look for strong alignment with management and a culture that embraces innovation.

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Internet and technology

Rising smartphone usage, young demographics and large pools of IT talent have led to burgeoning technology markets. With an ability to reinvest at high rates, we believe leaders will continue to increase their share and generate long-term growth.

^ Active share is a measure of the percentage of stock holdings in a portfolio that differs from the benchmark
* Absolute return is the return that an asset achieves over a specified period