374. Emerging markets: riding the next dollar cycle

Emerging markets have rebounded strongly despite global uncertainty. John Citron, co-manager of JPMorgan Emerging Markets Trust (https://www.fundcalibre.com/elite-fun...) , shares what’s behind that strength: from currency cycles and interest rate shifts to transformative themes like AI, semiconductors, and infrastructure. John shares insights into how disciplined, quality-focused investing and low portfolio turnover can unlock compounding returns across regions such as China, India, and Latin America. This episode also explores valuation discipline, long-term forecasting and how volatility can create opportunities.


What’s covered in this episode: 

• Why the US dollar matters so much for emerging markets
• The shift from a strong to weaker dollar cycle
• How AI and semiconductors are reshaping Asia’s tech landscape
• India’s growth story across infrastructure, finance and consumers
• China’s recovery and governance challenges
• The philosophy of long-term quality investing
• Using a five-year expected return framework
• Mercado Libre’s evolution beyond e-commerce
• How volatility creates buying opportunities
• Why compounding quality wins over time


More about this fund: JPMorgan Emerging Markets Trust (https://www.fundcalibre.com/elite-fun...) takes an active approach to investing in emerging markets, with the managers looking at the growth of companies rather than specific countries. Backed by one of the largest emerging market research teams, the trust has delivered excellent returns for more than two decades, emphatically demonstrating the team’s long-term approach to stock picking.







Learn more on fundcalibre.com (https://www.fundcalibre.com/)

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.