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Investors can identify emerging market opportunities by focusing on countries' prospects for human capital growth.
By Robert SIMPSON, Head of Emerging Markets Investment Strategy Solutions (Fixed Income Sabrina JACOBS, Senior Client Portfolio Manager, Pictet Asset Management
Investors spend vast efforts focusing on capital – capital accumulation, replacement capital, cost of capital, natural capital and so on. But another significant driver of an economy's long term performance, and, by extension, investment performance, is human capital(1), be that life expectancy, education, equality or softer indicators about quality of life. It's our belief, based on a wealth of research, that investors can generate excess returns by correctly...
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