Economie emergenti: ormai maggiorenni
I mercati emergenti tradizionali sono in rapida evoluzione e offrono interessanti opportunità di investimento.
Molte società presenti nei mercati emergenti stanno beneficiando di questo trend e dei relativi cambiamenti nelle dinamiche della domanda interna.
Lombard Odier Investment Managers adotta un approccio altamente selettivo all’investimento nelle società dei mercati emergenti, identificando le specifiche diversità al loro interno.
La sostenibilità resta al centro del nostro processo di investimento a lungo termine.1
I mercati emergenti tradizionali stanno evolvendo rapidamente, offrendo opportunità interessanti di investimento.
Economie emergenti: ormai maggiorenni.
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Giganti dormienti |
Sempre piu solidi |
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| Con una crescita in accelerazione Tra il 2015 e il 2030 le economie dei mercati emergenti potrebbero crescere due volte più velocemente rispetto ai mercati sviluppati.4 |
Sempre più influenti |
Perché investire?
In un mondo dove la crescita del capitale è sempre più scarsa, i cambiamenti nelle dinamiche dei mercati emergenti generano potenziali opportunità di investimento.
Più forza, più ricchezza e più crescita
I mercati emergenti - che includono la Cina, l’India e molte altre nazioni in rapida crescita - appaiono molto diversi rispetto a 10 anni fa.
Economie più solide e più ricche, livelli di inflazione più bassi, valute più forti e aumento della domanda interna di beni e servizi, sono solo alcuni dei trend positivi che caratterizzano i mercati emergenti.
Molte aziende operanti in questi mercati stanno beneficiando di questo trend positivo.
Cambiamento e diversità
Con l’aumento della ricchezza delle famiglie, la domanda si sta spostando dai beni di base ai servizi. E i grandi cambiamenti nella domanda portano grandi opportunità (e grandi rischi).
Mentre gli investitori considerano i mercati emergenti come unica catego¬ria, in realtà le differenze interne sono notevoli. La solidità economica e le dinamiche variano significativamente da paese a paese; persino nei mercati più forti, le prospettive di crescita delle singole società differiscono notevolmente.
Per questo motivo riteniamo che sia necessario un approccio altamente selettivo basato sulla sostenibilità.
Il team d’investimento.
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Dhiraj Bajaj CIO, Asia Fixed Income and Equity |
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Wee Jia Low |
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Ashley Chung Co-Portfolio Manager |
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Faye Gao Co-Portfolio Manager |
Strategia e filosofia d’investimento
In Lombard Odier Investment Managers riteniamo che la sostenibilità guiderà i potenziali rendimenti futuri.8
Adottiamo un approccio a tre pilastri per la ricerca di aziende sostenibili, selezionando quelle che hanno modelli finanziari sostenibili, business practice sostenibili e modelli di business sostenibili.
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Modelli finanziari |
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Business practice |
| 3 | Modelli di business Riteniamo che la ricerca di modelli di business ben posizionati dal punto di vista della sostenibilità- ad esempio, quelli che considerano il cambiamento dei modelli di consumo nei mercati emergenti - sia la chiave per identificare le aziende in grado di mantenere una solidità finanziaria nei vari cicli economici. |
Risultato finale
Il risultato finale è un portafoglio high conviction composto da 50-70 titoli con l’obiettivo di investire in società sostenibili con un potenziale di crescita al di sopra della media di mercato, e a valutazioni interessanti - aziende che sono pronte a trarre vantaggio dai trend che caratterizzano i mercati emergenti.
contattaci.
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