Insights
Quarterly perspectivesEmerging market equities: CapEx, chips, and a charging China
From capital expenditure catalysts to geopolitical crosswinds, tune in to hear why Global Head of Equities Devan Kaloo remains bullish – and what risks he’s watching.
Authors
Devan Kaloo
Global Head of Equities
Tom Harvey
Senior Equity Specialist
Duration: 14 Mins
Date: Oct 20, 2025
“Despite emerging markets having done very well this year, they still trade at relatively cheap valuation versus the peer group … and similarly cheap relative to its history.”
Emerging market equities have outpaced expectations in 2025, with standout performances from China and a surge in artificial intelligence-driven investment themes.
In this latest episode of the Quarterly Perspectives podcast, Host Tom Harvey sits down with Global Head of Equities Devan Kaloo to unpack the drivers behind the rally, the strategic positioning of their portfolios, and what lies ahead for investors.
From capital expenditure catalysts to geopolitical crosswinds, tune in to hear why Devan remains bullish – and what risks he’s watching.
Tune-in to listen to our Quarterly Perspectives episodes on Apple Podcasts, Buzzsprout, and Spotify.
Important information
Projections are offered as opinion and are not reflective of potential performance. Projections are not guaranteed and actual events or results may differ materially.
Foreign securities are more volatile, harder to price and less liquid than U.S. securities. They are subject to different accounting and regulatory standards, and political and economic risks. These risks are enhanced in emerging markets countries.
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