Emerging markets: the end of an era?

Emerging markets have fallen behind their Western peers in the growth stakes. Keep your eyes open for bargains.

For most of the past decade, investors have deemed emerging markets (EM) "the best thing since sliced bread", says Jan Dehn of Ashmore Investment Management. But now the fashion has faded. EM stocks have underperformed global ones in the past 18 months or so. The problem? It's become increasingly clear that the "main driving factors behind EMs' great decade" are "unrepeatable" and have "played themselves out", says John Authers in the Financial Times.

The Brics are crumbling

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