The Wealth of Nations

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Emerging Markets Outlook

Emerging markets (EM) have been fast out of the gate in 2019, recalling last year’s strong start and subsequent stumble. While we are constructive on the prospects for EM performance in the year ahead, we think the real potential lies in individual country and thematic opportunities. A U T H O R S Yacov Arnopolin Executive Vice President Portfolio Manager Francesc Balcells Executive Vice President Portfolio Manager Pramol Dhawan Managing Director Portfolio Manager Kofi Bentsi Senior Vice President Portfolio Manager Gene Frieda Executive Vice President Global Strategist Tensions between uncertainties over growth, typical in the late stages of the economic cycle, and the dovish response from the Federal Reserve mean the journey ahead for EM as a whole will likely be circuitous, punctuated by bouts of volatility that separate the strong from the weak. PIMCO sees many opportunities within the asset class by focusing on alpha potential. For investors, we see opportunities across all three EM asset classes