Ninety One's Nicholas Jaquier: A letter from Argentina

The reforming frontier-market economy

I visited Buenos Aires four months on from Argentina’s general election last year.

While this frontier market is unloved by many fixed-income investors, having defaulted twice in the last two decades, the recent change in political leadership has triggered an unexpected positive shift for the economy. The trip confirmed my optimism about the new leadership's crucial economic reforms passing political hurdles. Emerging markets ex-China ETFs enjoy moment in the sun as investors snub China over 2023 While the path from frontier to emerging market economy will not be smooth, I expect associated market volatility to present significant alpha capture opportunities. ...