Are emerging markets cheap?
Published 29 January 2020
On the surface, emerging markets appear to be significantly cheaper than developed markets. Emerging markets trade at a forward PE of ~12x, compared to ~18x for developed markets. But dig deeper, and a different story emerges.
Edward Su, Co-Portfolio Manager of the Global Emerging Markets explains that when broken down to a sector level, it’s clear that a large portion of the discount is due to the heavy weight of low quality and cyclical businesses.
Click on the below to watch full video.