For a country that is short energy, India is looking optimistic, to our eyes.
More generally, an energy crunch (that appears to be just getting started) doesn’t seem like the best sort of time to start wading one’s way back towards an EM overweight, without an awful lot of discretion.
We remain underweight emerging market debt and equity, although, as we’ve noted before, that’s where the Value (capital V, as in Value the investment style/strategy) lies.
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