Czech Republic: The case of the lost decade
Brazilian Central Bank: Why Fraga chose inflation targeting
Thailand: Home is where the loans are
A solid outperformance by emerging-market funds in the first half of this year suggests a new investment cycle is under way. Fund managers report that cash levels have been reduced and fresh money is seeping back into funds for allocation to emerging markets. And while several new vehicles have recently been launched, pools of capital from institutional clients are being formed in segregated accounts for investing in emerging markets.
Emerging markets were up by about 34% in the year to late June, as measured by the IFCI Composite Index. And barring interest-rate uncertainty and a slowing of growth in developed markets, the pace is expected to continue.
Strategist Robert Pelosky, with Morgan Stanley Dean Witter in New York, is convinced the asset class has entered a new...
