Emerging market advocates argue vociferously that they remain the best place to be because their rapid economic growth translates into substantially better investment returns than those received in developed markets such as the UK and US.
And, at least in the long term, the evidence appears to support this argument.
EM equity returns over the past 10 and 20 calendar years, as measured in US dollars by the MSCI Emerging Market index, have been 16.3 per cent and 14.5 per cent per annum, respectively, compared to 9.3 per cent and 7.5 per cent from developed markets.
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