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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
Past performance does not guarantee future results.
*Value cycles defined as periods in which the MSCI Emerging Markets Value Index outperformed the broad MSCI Emerging Markets Index. Growth cycles defined as periods when the MSCI EM Value underperformed the broad index. Growth cycle 1 from January 1997 to February 2000. Value cycle 1 from March 2000 to January 2012. Growth cycle 2 from February 2012 to October 2020. Value cycle 2 from November 2020 to May 2022.
As of May 31, 2022
Source: FactSet and AllianceBernstein (AB)
Past performance does not guarantee future results.
*Based on earnings estimates for the next 12 months
As of May 31, 2022
Source: Bloomberg, MSCI, S&P and AllianceBernstein (AB)
Past performance does not guarantee future results.
EM Value includes eVestment Global EM Large Cap Value and Global EM All Cap Value categories. EM Growth includes eVestment Global EM Large Cap Growth and Global EM All Cap Growth categories. EM Core includes eVestment Global EM Large Cap Core and Global EM All Cap Core categories.
As of December 31, 2021
Source: eVestment and AllianceBernstein (AB)
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.
Stuart Rae is Chief Investment Officer of Emerging Markets Value Equities since 2023 and Chief Investment Officer of Asia-Pacific Value Equities, a position he has held since 2006. He is also a long-standing Portfolio Manager for China Equities. Previously, Rae was CIO of Australian Value Equities from 2003 to 2006. He joined the firm in 1999 as a research analyst covering the consumer sector, initially working in New York and London before moving to Sydney in 2003, Hong Kong in 2006 and Melbourne in 2021. Before that, Rae was a management consultant with McKinsey for six years in Australia and the UK. He holds a BSc (Hons) in physics from Monash University, Australia, and a DPhil in physics from the University of Oxford, where he studied as a Rhodes Scholar. Location: Melbourne
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