Emerging Markets Equity Environment Analysis – September 2021

Key Points- September 2021 Market Review

1. Momentum and Quality outperformed all other factors. Value style recovery continues across Global markets.
2. Europe, Middle East and Africa outperform all other regional blocs; Top 2 European countries deliver returns in excess of 70%.
3. Financials and Energy sector outperformed over 1-year period. IT sector leads across all time periods.
4. Rolling 12-month EM volatility subsides however Russian and Chinese equity volatility remains elevated.
5. Momentum, Min Vol, Value, Small and Mid cap offer most potent diversification benefits.