For much of the time between 2015 and 2019 many investors when considering their Emerging Markets exposure seemed intent on looking for Value oriented strategies. We know this because they told us as much. And given the bull run of Growth (over Value) since 2010 perhaps a belief in some sort of reversion was natural enough. But just like Vladimir and Estragon and their vigil for Godot, these investors are still waiting for Value investment to put in an appearance.
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