It has been a dreadful start to the year for global equity markets – but one trend is clear. Emerging markets have outperformed their developed world peers.
While the S&P 500 index was plumbing 12-year lows at the start of this week, the MSCI emerging markets index is up 10.6 per cent from its October 27 low. Since January 1, emerging markets have fallen 11.4 per cent compared with a 21.2 per cent drop in developed world stocks.
