Argentina and Russia are giving money managers a brutal reminder this week of idiosyncratic risks in emerging markets.
In Argentina, the surprise win of Javier Milei in the primary elections has unnerved investors, forcing the government to devalue the currency by 18% on Monday. In Russia, the central bank called an extraordinary policy meeting for Tuesday after the ruble crashed through the 100 per dollar level for the first time since March 2022.
“There’s a lot of pressure on EM assets right now,” said Aninda Mitra, a macro and investment strategist at BNY Mellon Investment Management in Singapore. “Investors are caught between a hawkish Federal Reserve, a China slowdown, plus we’ve got these local idiosyncratic factors that are flaring up.”
Emerging market stocks and currencies are already set for their worst month since February amid a surge in Treasury yields and as China faces the threat of deflation.
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The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
