Emerging-market equities are back in vogue. Whether it is primary-market activity, secondary-market trading volumes or performance levels, the asset class is on a roll and analysts reckon there is much more to come.
To gauge how much interest is building in emerging-market equities, consider two deals that were priced last month. On September 12, Deutsche Telekom sold its 10.1% stake in Russia's Mobile TeleSystems, raising $1.5 billion within a matter of hours. A sale of local shares, it is the biggest Russian equities deal so far this year.
That same week a consortium, led by Turkish conglomerate Koc Holdings, made a successful $4.14 billion bid for a 51% stake in local oil refiner Tupras. The amount offered...
