EM Equity ESG Report 2025
We share our 10th annual EM Equity ESG report, which includes topics from water conservation and societal value to parental leave and ethical AI.
Diversifying from Dollars
Long-running dollar outperformance has reversed in 2025 and could have further to fall. For investors looking to diversify dollar exposure, read on!
Unlocking markets: a turning point for EM equities
In our ‘Unlocking markets’ EM Equities podcast episode, we discuss two of our top-down themes: Future Infrastructure & Technological Transformation.
EM equities: when challenges become opportunities
EM equities have started to perform better relative to DM equities of late. We look at whether this performance can be sustained and the main drivers.
Unlocking markets: the rich tapestry of EM Debt
In our EM Debt ‘Unlocking markets’ episode, we debunk some of the myths around the asset class, a colourful mix of over 80 countries and 13 sectors.
Private assets in emerging markets
We look at private assets in emerging markets and overcoming the drawbacks of private equity through an exposure to illiquid credit.
RBC EM Equity Strategy: strong absolute and relative returns over 15 years
With our EM Equity Strategy passing its 15-year milestone, we discuss the factors that have contributed to our track record of strong outperformance.
Unlocking markets: why investors should care about EM
In our EM Equities ‘Unlocking markets’ episode, we discuss Trump 2.0, Saudi’s appeal from a top-down perspective, and compelling domestic sectors
The death of the dollar…and the rise of EM local
We make the case that emerging market local currencies and rates should benefit from the recent decline in the US dollar’s 15-year bull run.
The tailwinds for alternative fixed income strategies in emerging market debt
How different EM alternative strategies can offer investors a way to capitalise on market inefficiencies.
Artificial Intelligence: paradigm shift or bubble? Maybe it’s both
Our EM Equity team looks at whether AI is still in the early stages of growth or nearing unsustainable levels, and the resilience of the EM IT sector.
Emerging markets return to favour
We discuss what’s driven the outperformance of EM equities so far this year and consider whether this trend has further to run.
RBC EM ex-China Equity Strategy: a distinctive approach resulting in 5 years of strong performance
With our EM ex-China Equity Strategy reaching five years, we look at the factors have contributed to its success and the lessons learned.
Blending markets: a global approach to high yield debt investing
US debt has dominated the HY market traditionally. However, the rise of European and EM HY debt is creating opportunities for enhanced returns.
BlueBay Emerging Market Bond Fund
EM Equity Outlook Report 2025
We share a summary of our RBC EM Equity Outlook report for 2025, which includes macroeconomics, valuations, earnings, styles, themes, and ESG reforms.
Private credit opportunities in emerging markets
We discuss how a selective approach to high quality EM private debt investments can enhance returns, while reducing risk and dampening volatility.
Three drivers of growth and profitability in emerging markets
We highlight three key structural and cyclical drivers for a change in the EPS growth and profitability profile for the EM Equity asset class.
Unlocking the illiquidity premium in EMD
We discuss how – at a time of global uncertainty – EM private credit investors can benefit from enhanced yield and a compelling risk-reward balance.
Why invest in Emerging Markets?
RBC Funds (Lux) - Emerging Markets Equity Fund
Navigating uncertainty in emerging markets equities
With trade uncertainty ongoing, we discuss intra-EM trade and key regions and countries in the EM equities universe – China, India and Latin America.
Education in emerging markets: closing the gap
Within our EM Equity team, awareness of ESG factors at country level is useful for positioning our portfolios in areas of long-term structural growth.
RBC Funds (Lux) - Emerging Markets Value Equity Fund
Greece and Turkey: shifting sands
We visit Greece, which has seen a strong economic and market recovery in recent years, and Turkey, home to some of the highest-quality firms in EM.
In praise of unconstrained investing
We discuss why a high conviction, total return approach is best suited to generating superior returns in the unconstrained EMD space.
Indonesia: a long-term growth story
Despite recent stock market falls and policy uncertainty, our EM Equity team believes the Indonesia equity story is a favourable one.
The bridge to dollar weakness
We discuss why the current macro environment is creating an asymmetric opportunity to be short the dollar.
European Equity book reviews of the year
As the end of the year approaches, our European Equity team members revisit some of the books that caught their eye during 2024.
Emerging markets equity
Disciplined security selection and risk management, combining top-down thematic views with rigorous company level research.
China: stimulating the dragon
Our EM Equity research trip to China took place straight after the US election and in the context of recent stimulus announcements by the government.
The Middle East: a region under transformation
We visited Saudi, Bahrain and Kuwait, three countries that offer an attractive top-down story, with economic growth becoming increasingly structural.
Emerging Markets Equity Climate Report 2025
In our annual EM Equity Climate Report, we look at climate-related risks and opportunities of the RBC Emerging Markets Equity Strategy.
Taiwan: third time’s a charm?
Sentiment is positive amongst Taiwan’s tech companies this year, although Taiwanese equities could face further consolidation and caution is needed.
Tariffs: the Canadian perspective
Eric Lascelles, Chief Economist, looks at the economic impact of tariffs in North America, political change in Ottawa, and trade diversification.
Emerging markets debt
A multi-layered approach for a broad & evolving asset class.
Polina’s Perspective: a journey to maturity – reflections from the window seat
Following a recent trip to South America, Polina Kurdyavko, Head of EMD, reflects on the challenges and opportunities for emerging market countries.
Wise men follow a new light in the night sky
As we make bold predictions for year ahead, we would be wise to focus on policy and politics, and absolute return strategies.
Travelling at the speed of light
European yields have tended to track the US over the past week, with little new information coming from Lagarde at this week’s ECB meeting.
Shutdown blame game
The US government shutdown was a focus this week, while further protests in France have done little to help drive a political breakthrough.
La Dolce Vita: lessons in purpose from Cucinelli
We discuss Brunello Cucinelli, an Italian luxury apparel business with a team who want to prove financially what they believe morally.
New Year’s fireworks
The UK has been front and centre this week, with the rise in borrowing costs making headlines and structural forces continuing to plague the economy.
Tax man cryin'. Rayner smilin'
What are the implications of any US Supreme Court ruling on US tariffs and the firing of Fed governor Lisa Cook?
No hero for Net Zero
The US government shutdown continues and with air travel now affected, there are fears that the economic drag may start to escalate.
Economic fears ease, as political worries bubble to the surface
An extended US government shutdown could have modest economic downside risks, but we think it’s unlikely to materially impact the macro outlook.
Making all of her own problems
Japanese assets came under increasing pressure over the past week, as Prime Minister Sanae Takaichi continues to unsettle markets.
The Fed and the Fall
A notable development at this week’s FOMC meeting was dissent from new member, Stephen Miran, who advocated for a more aggressive 50bps cut.
The continuous march of the Welfare State
Following the Budget, a change in UK leadership appears less likely in the near term, although an optimistic outlook is a challenge at present.
On the political ropes?
The political spotlight on Trump has put him on the defensive, as his approval rating slides to a new low point during his second term in office.
You don't mess with the Zohran!
A key focus this week was the mayoral race in New York, where 34-year-old Zohran Mamdani was elected with over 50% of the vote.
Bubblicious!
Newsflow in the Eurozone remained relatively muted this week, while the UK’s better-than-expected CPI print eased pressure on policymakers.
Christmas cheer on the way??
In our weekly macro note, we reflect on market implications for the next Fed Chair, improving gilt sentiment, and hopes for seasonal cheer in markets.
Prince of Peace?!
It was an eventful week in Japan, where the election of Sanae Takaichi as LDP leader came as a surprise to markets and to us.
Trump’s tariff tango
Many investors had taken a complacent view ahead of Liberation Day, yet the outcome was a complex array of tariffs at various rates on a global basis.
The last (paper) straw?
Despite noise from overseas and from many prominent figures in the US, it’s striking that Trump is enjoying a strong approval rating from voters.
Trump 2.0, a song of fire and ice
There will be plenty of noise coming from Washington in the coming days, and we wait to see how this impacts markets, both domestically and overseas.
Are Trump's golden ideas starting to lose some lustre?
If there has been any political surprise in recent days, it has been a push by Merz to secure agreement on a large increase in defence spending.
