Emerging Markets 26 Sep, 2024
Federal Reserve’s cut in US interest rates to 4.75-5% – its first reduction in four years – provides ‘a very strong tailwind’, says manager of this £1.7bn emerging markets fund.
By Gavin Lumsden
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This article was first published in the Telegraph’s Questor column today.
Last week’s ‘jumbo’ 0.5% cut in interest rates by the US Federal Reserve has sent a nervous thrill through global stocks and could signal a much-needed recovery in emerging market (EM) funds after a difficult three years.
Markets are unsure how to interpret the bigger-than-expected move. Does the Fed’s first reduction in its ‘funds’ rate in four years signal everything investors want in a US ‘soft landing’ – inflation under control, an easing in financial pressures and a gentle slowdown in the world’s largest economy?
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Chetan Sehgal
148/251 in Equity - Global Emerging Markets (Performance over 3 years)
Average total return:
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