Aberdeen's Kaloo: Weaker currencies can help EMs

‘The BRIC concept is a distraction’

Aberdeen's head of global emerging markets Devan Kaloo tells Nick Paler about his outlook for EMs following political upheaval, falling currencies, and a volatile time for equities.

Emerging markets have come under immense pressure in the last year, with investors exiting the asset class as fears over tapering in the US and slowing growth triggered a sell-off. The turmoil has hit funds hard – among those seeing heaving selling include the UK’s leading investment house in the global emerging markets space, Aberdeen Asset Management. Its suite of three retail funds have consistently outperformed and outsold peers to grow to £15bn in size by May last year. However, Aberdeen has seen large chunks of money come out of all three mandates since the downturn last summer....