JPMorgan Fleming Asset Mangement: Emerging markets update, November 2001

Economic catalyst needed for outperformance By Chris Tracey, investment director The MSCI Global Emerging Market Index rose by 5.7% over the month, led by emerging Europe. Poland (+25.3% in US dollar terms) was particularly strong on economic hopes for the its new government, while Russia (+12.5%) was also strong. Turkey surged 21% on growing confidence that the IMF would provide sufficient funds to provide another bailout. With the exception of Mexico, Latin American markets were much more subdued, with the concern that even a voluntary restructuring of Argentina's debt would be clas...