'Not the same panic or fear': Murray International's Fitzpatrick hails EM inflation winners

Still added to European holdings in H1

As companies in the developed world struggle with multi-decade high inflation, the unfamiliar economic backdrop has proven less of a burden to some businesses in emerging markets, according to Samantha Fitzpatrick, co-manager of Murray International trust.

Even though emerging markets are vulnerable to rising US dollar interest rates prompting capital outflows, most have plenty of experience with inflation. Countries like Brazil are used to dealing with proper interest rate cycles and its central bank has been raising interest rates for over a year in preparation for higher consumer prices. While Murray International's bottom-up, globally diversified mandate means it refrains from betting on any region's overall performance, instead identifying and prioritising individual stocks based on balance sheet strength and earnings outlook, Fitzpat...