149. Finding multi-baggers in emerging markets

John Citron, co-manager of JPMorgan Emerging Markets trust, tells us how emerging markets have changed over the past decade. He also discusses the new sectors that are appearing and the new opportunities that are available. John also reveals that Walmex is the trust’s longest-standing holding and tells us why it has been such a good investment for almost 30 years and why it remains so today. He also tells us about the trust’s newest investment and explains the regulatory issues in China.
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Launched in 1991, JPMorgan Emerging Markets Trust has an established long-term track record of investing in emerging market equities. The team takes a long-term approach to stock picking, with the focus exclusively on companies, rather than countries, in the emerging markets space. Managers Austin Forey and John Citron have delivered excellent returns for many years, whilst also evolving the portfolio to meet changing trends.

Read more about JPMorgan Emerging Markets Trust

What’s covered in this podcast:

  • How emerging markets have changed over the past decade [0:33]
  • Which new sectors and opportunities are emerging [1:59]
  • The differences when looking at a country through the prism of the corporate sector and the prism of a macroeconomic standpoint [3:11]
  • Which company has been a holding in the trust since 1994 [6:11]
  • The most recent investment for the fund [8:33]
  • If Asia is the only game in town in emerging markets [10:35]
  • Two of the trust’s largest contributors over the years [11:41]
  • An explanation of the regulatory pressures in China and how they can impact your investments [13:45]
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