Graham Duce

“Earlier in the year, many investors backed the emerging market decoupling story as growth in the region remained strong despite the western downturn. More recently emerging markets as a region has underperformed as confidence in the independent growth story cooled. We now believe emerging markets offer investor value and have sold the absolute return JPM Emerging Market Alpha, which has performed well during the correction, switching to Resolution Hexam Global Emerging Markets allowing us to capture more market beta. We still believe that markets will remain volatile and a asset allocation and rotation will be vital.”