Foresight Emerging Market Factor Report

Global emerging markets represent both a good source of value and growth (GARP) opportunities within global equity markets according to our latest factor report. Value factors that stand out in the latest analyses include book yield (4 standard deviations higher) free cash flow yield (2 standard deviations higher), EBITDA to EV (3.8 standard deviations higher). Growth factors that stand out relative to global equity markets include 5-year earnings growth (3.5 standard deviations higher) and sales growth (7 standard deviations higher). Currency and volatility risks continue to be elevated in emerging markets relative to global equity markets.

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