The recent revival of the FTSE 100 index means that the UK is no longer in the doghouse of world markets. That position is now occupied by emerging markets, with a 7% loss over three years for the MSCI Emerging Markets index in sterling compared with a gain of 24% for the UK’s All-Share index.
Nevertheless, as Andrew Ness, the manager of the points out, emerging markets “generate 65% of global GDP growth [and] offer a range of world-class companies and exciting investment opportunities”. Earnings growth “is forecast to be 18% – double the growth expected globally”, yet emerging markets trade on just 12
