Purposeful Growth: The Right Kind of Growth
When our investors are asked “Why Arisaig?”, a common answer would be that our strategies provide exposure to some of the megatrends that are re-shaping emerging markets, and by extension the whole world given that most people on the planet live there. First, structurally higher GDP growth in emerging markets relative to developed markets – […]
The China Hurdle
The world is starting to digest the potential for emerging market growth the be reflected in the performance of emerging market assets. See ‘Waiting for Spring’ blog as well as bottom-up pieces on India, the Philippines and Vietnam. As bottom-up investors in emerging markets who have been dutifully tracking decent earnings growth of stocks whilst the share prices tumbled, […]
Waiting for Spring
2022 was undoubtedly a bleak year for the investment industry, and particularly our own small corner of the investment world in developing markets. Rising rates and escalating geopolitical tensions were particularly damaging for perceived riskier ‘growth’ assets, especially in emerging markets. Arisaig’s peer set appears to be gradually shrinking, an inevitable consequence of the underperformance […]
Why values, and long taxi rides, matter at Arisaig
As emerging market investors, we aren’t great followers of US politics. Sure, we have had a tough decade or so as investors swimming against the tide of US Dollar strength, and wouldn’t have thought the host for the Apprentice TV series would have made it to the White House (that normally happens in places that […]
Bioceres: Addressing Food Security in a Changing Climate
The Russian invasion of Ukraine has caused severe disruption to global food and energy supply chains in 2022, compounding the challenges of COVID. This has sharpened the focus of governments across the world on the importance of reducing vulnerability to fluctuating food prices and minimising dependence on the generosity of export partners. Before this most […]
The 20th National Congress: What it means for investors
Whilst investors are warming to the relative attractiveness of emerging markets versus developed markets, China remains a source of intense debate. This is reflected in the 37% decline in the Hang Seng Index over the year to 31 October 2022[1], making it amongst the worst performing major markets in the world. October was particularly bleak, […]
Back on the Ground: Philippines
Gordon, Partner and Co-CEO, ventured to Manila last month with Singapore office colleague, David Goh, for the first time since the pandemic. The macro picture We were pleasantly surprised by how robust consumer sentiment was in the Philippines, even though the country is an outlier amidst the relatively good macro environment in the ASEAN region. […]
India Deep Dive: Resilience, Recovery and Adaptation
Hugo, Strategy Research Partner, joined Vasudha and Vatsal for a ten-day tour of India, travelling to four big cities: Delhi, Hyderabad, Chennai and Mumbai. Alongside meetings with the management of holdings and prospects, we spent time visiting households, SME manufacturers and hardware retailers. Getting back to in-person meetings and spending our weekends walking around the […]
Improving the impact of microcredit for SMEs
Access to microcredit is a key enabler of poverty reduction and economic growth as it supports small businesses and entrepreneurs to get their businesses off the ground, and sustains them through natural seasonality or difficult times. This can help rice farmers in the Philippines buy fertiliser or garment manufacturers in Bangladesh buy sewing machines – […]
High impact solutions to climate change in emerging markets
As a founding member of the Net Zero Asset Managers initiative, Arisaig Partners is committed to, among other things, working in partnership with our asset owner clients on decarbonisation goals. In late June, we hosted a small gathering of institutional investors to discuss investment in climate change solutions in emerging markets. There is still a stark […]
