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Shaping Tomorrow's Marketplace: Investment Philosophies for Emerging Markets and a Semi-Globalized World

Shaping Tomorrow's Marketplace: Investment Philosophies for Emerging Markets and a Semi-Globalized World

ISBN: 978 1 84374 766 6

Author(s): Luc Nijs

This book looks at the economies of emerging markets and investigates what industries look most promising in which region and/or countries.

Publication Date: July 2011

Price: £199  


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Emerging markets have been around for a while as an investment theme and as such have been off and on the list for many investors and corporations worldwide during the last 20 years depending on where we were in the global economic cycle. In fact, the term emerging markets actually has become obsolete as it now covers a long list of countries with each country reflecting a different economic, industrial, cultural and monetary outlook. Despite the fact that they make up about 35% of global GDP (and that is expected to grow to 50% over the next 20 years) these many investors (and companies likewise) have a minor, although growing, exposure to those regions in the world. Home bias and the historical super cyclical nature of those regions have made investors stay away or move in and out while riding the hot money wave. So far for globalization pur sang.
 
Since the 2008-2009 financial crisis those regions have obtained more visibility than ever before as a place with increasing financial stability and a more balanced economic outlook and clear dynamics for growth. But what makes them really attractive and how to select from such a heterogeneous pool of economies? In this book we look behind the curtain of these economies and evidence what industries look most promising in which region and/or countries. Cruising the different regions and countries using real-life examples this book fleshes out the dynamics of these economies and the industries that will give some of those countries a long-term competitive advantage in tomorrow's global economy. Moving beyond the credo's of 'the rising middleclass', 'rising domestic demand', 'excellent demographics' and the 'unlimited need for infrastructure' shaping tomorrow's marketplace helps you develop your investment or corporate philosophy to navigate those countries and the ever-growing economic interconnectedness of these economies. This book allows you to develop your set of philosophies to determine which industries in which economies deserve attention and what financial products are most suitable to get access to those markets and the opportunities you spotted in a meaningful way. Performance and trends per asset class will be reviewed.  It further evaluates the corporate strategic options that will determine or enhance success for corporations active or looking to be active in these economies - a challenge many took on but so far only a few mastered the art of embracing those often challenging environments. In line with contemporary thinking, managing and diversifying types of risk will play a crucial role in the background. 
 
Finally, the book demonstrates how in a semi-globalized world, where capital flows after the crisis have become more regionalized, the role of OECD economies will be crucial for the further development of those emerging economies and which industries will ultimately contribute to shaping tomorrow's marketplace. Part of that equation will force us to look at the long-term impact of new age protectionism, austerity and other ways governments and societies are dealing with the new reality since the crisis and how a reversal in globalization patterns could affect the outlook for those economies and the global economy as a whole and ultimately your investment philosophies.

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Review

"An excellent thought provoking piece that provides some creative ideas and unique perspectives on how investors can better understand, navigate and integrate the benefits of allocating to Emerging Markets or rather Growth Economies in the context of a global investment portfolio.

It provides an incisive account backed by a wealth of economic and financial data on the interconnectedness between the Growth economies and the Developed world, analyses the dynamic shifts in political, economic and financial power of the Growth Economies and their ability to influence the topography of the Developed world. In addition to the BRIC countries, there are another eleven Growth Economies that are likely to impact  investors mindset, their investment behaviour and risk/reward appetites. Certainly a must read for global investors." [Sohail Jaffer, Partner, FWU Luxembourg]

"Confidently written, Luc Nys takes us on a comprehensive journey through the different emerging markets and asset classes. He connects a large number of the emerging markets dots and moves beyond the usual credos, thereby unraveling and demystifying many of the dynamics of emerging markets. A straigthforward, practical and compelling to-the-point guide for all (potential) investors in todays global marketplace." [Mr. Jurgen Rigterink Chief investment officer FMO]

"Luc Nijs draws on his extensive experience in emerging markets to take the reader on an all-encompassing tour through the latest investment opportunities around the globe. He locates the discussion squarely in the context of the latest developments in the global economy and the investment industry, but never loses sight of the broader historical trends that have shaped the world as we find it today. The book should serve as an invaluable guide to students and practitioners alike." [Graham Stock, Chief Strategist, Insparo Asset Management]

 

"A practical guide that does justice to the myriad of differences between countries and regions within ‘emerging markets’, embedded with a strong message for Developed Markets that global economic developments will be dictated by emerging markets; the book makes the reader understand the structural and cyclical drivers of performance in EM with a focus on extracting value for your portfolio; with examples from first-hand experience making the experience entertaining, credible and imaginative, ranging from Chinese Real Estate to the Mexican maquiladoras." [Mr. Rob Drijkoningen, Co-head of Emerging Markets Debt, ING Investment Management]

"The emerging markets of Asia, Middle East, Russia and South America remain in the focus of international investors, in particular in light of the European and US financial market crisis. [This book] in the English language examines the developments of emerging markets from different economic and business perspectives. For instance themes like natural resources, requirements for infrastructure, consumer markets and relevant local client expectations are put into context with expectations of international investors. The book allows [the reader] to approach the respective markets from different perspectives and elaborates its specifics. The reader obtains a good overview over the respective, also cultural, particularities of the different emerging markets which may be attractive subjects for investors, due to the comprehensive workup of the relevant themes for the respective regions.” [Translated from the review by Simon Grieser for die Bank, August 2012 issue]

 

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