Threadneedle Street
London
Our Long-Only strategies span ACWI ex-US, Asian, Environmental, Global Emerging Markets, Global Smid-Cap and UK equities, as well as Emerging Markets Debt.
Our Alternative strategies specialise in Equity and Credit Long/Short.
We believe that Trump’s election victory is an enormous opportunity as we cross the Rubicon into a more volatile, polarised world. This investment environment will likely be characterised by increasing uncertainty, event-risk, and a divergence in performance between relative winners and losers. In short, it should suit truly active, contrarian and agile investors such as TT. In this piece, we discuss some of the scenarios that markets may be overlooking, and therefore where opportunities could lie, before outlining some potential EM winners and losers from a Trump presidency.
Amid a widening economic growth differential, attractive relative valuations and light investor positioning, we see multiple reasons for asset allocators to revisit EM, with the Fed’s first rate cut being a key catalyst for this shift to begin in earnest. After many years of disappointing returns from EM assets, we believe it is their time to shine.
Following a perfect storm for EM assets and years of chronic underrepresentation in global portfolios, we believe the time is right for investors to increase their allocations. Both cyclical and fundamental factors now favour EM, whilst the asset class will continue to provide significant diversification benefits at much lower valuations. Moreover, increased geopolitical risk, policy uncertainty and elevated volatility provide fertile ground for alpha generation.
However, as information becomes more widely available, the asset class is now better researched and increasingly efficient. At the same time, market structures are shifting, with local markets now dominated by domestic investors. A changing investment landscape demands a different approach. We see a strong case for a truly active, nimble and contrarian process that exploits market ‘blind spots’ and differences in behaviour between investors to generate asymmetric returns.
Learn why we believe that now is an ideal time to be allocating to global smid-cap stocks.
TT International London
62 Threadneedle Street
London EC2R 8HP
Tel: +44 20 7509 1000
Email: info@ttint.com
TT International New York
400 Madison Avenue
Suite 14-C
New York
NY 10017
Tel: +1 917 814 2590
Email: info@ttint.com
TT International (Hong Kong) Ltd
18th Floor
8 Wyndham Street
Central
Hong Kong
Tel: +852 3476 6200
Email: info@ttint.com
TT International Japan
Toranomon Hills Business Tower 26F 1-17-1 Toranomon
Minato-ku
Tokyo 105-6426
Tel: +81 3 3591 2261
Email: info@ttint.com
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TERMS & CONDITIONS OF USE
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1. About TT International
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18. Law and Variation
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19. Contact Us
You can contact TT at: T: +44 20 7509 1000, F: +44 20 7509 1289, or by email to info@ttint.com.
TT International Asset Management Ltd.
TT
International Investment Management LLP
62 Threadneedle Street, London, EC2R 8HP, England
© 2020 TT International
Authorised and regulated in the UK by the Financial Conduct Authority