Emerging markets are the engine room of the global economy. A predominately young workforce and a plethora of raw materials have made these markets responsible for most of the world’s GDP growth, while developed nations struggle with high inflation and low growth.
It is little surprise therefore that we are lending more of our retirement funds to governments and corporates in the developing world than ever before. Yet the IMF has warned that a growing number of these countries are in or near debt distress.
Our cover story this month looks at the situation to discover if investors should be concerned.
The summer edition also examines undervalued assets, water, defined contribution schemes investing in illiquids and we debate best practice in stewardship, while the head of the Wiltshire Pension Fund discusses private markets, net zero and keeping up with the government.
We hope you enjoy the edition.