Tough times for emerging markets

The emerging market asset class has been going through difficult times of late. The last month in particular was brutal - thanks to a sell-off in currency, debt and equity markets. This was not the beginning of the travails of emerging markets; emerging market equities have been underperforming vis-a-vis developed market equities since mid-2010. During this period, a performance gap of 55 per cent opened up.

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