• Wellington Management Funds

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Revealing opportunities in emerging markets

We are a pioneer in emerging markets investing. Our distinctive combination of expertise and collaboration, with the broad resources of an established global firm, gives us insight into how companies and countries are evolving across the globe.

Revealing opportunities in emerging markets

We are a pioneer in emerging markets investing. Our distinctive combination of expertise and collaboration, with the broad resources of an established global firm, gives us insight into how companies and countries are evolving across the globe.

Access the perfect combination

Through expertise and collaboration, our funds seek to uncover the hidden gems of tomorrow that can help your portfolio access fresh, dynamic areas.

Leveraging our deep sector expertise, the Fund seeks to unearth the best emerging markets companies in a bottom-up, fundamental manner.

Investing in emerging markets companies that we believe will benefit from economic and structural development themes.

Sifting through data to find the drivers across the market-cap spectrum using a systematic approach.

Blending a quantitative framework with fundamental analysis to uncover opportunities in local interest-rate and currency markets.

Uncovering the true picture

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Our industry specialists have deep technical industry expertise built over decades of covering their sectors. We believe that looking at emerging markets companies through a global industry-focused lens helps us to unearth the best investment opportunities.

About this Fund

Actively managed against the MSCI Emerging Markets Index, the Fund draws on extensive research and invests in companies located in emerging markets or deriving substantial revenues from them.

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

KEY FEATURES

  • Seeks to provide core emerging markets exposure and is expected to have low correlation with other emerging markets strategies
  • Focuses on the 'best ideas' from our emerging markets industry specialists
  • Portfolio construction leads to diversification by industry and investment style

Diversification by industry

We combine our industry specialists’ portfolios with the aim of smoothing out performance by diversifying across industries
Ave. risk of standalone sub-portfolios
Combined portfolio

The diagram above is for illustrative purposes and there is no guarantee that the Fund will have the same characteristics as described.

  • Industry portfolios
  • Banks
  • Non-bank financials
  • Real estate
  • Tech hardware and equipment
  • Asia cyclicals
  • Consumer
  • Tech software and gaming
  • Materials
  • Energy
  • Telecom
  • Utilities
  • Health care

A specialised and collaborative network

Our global network is founded on collaboration, with our specialists constantly sharing knowledge and ideas with the aim of building even stronger portfolios.
Devashish Chopra
BANKS
Anita Killian, CFA
INFORMATION TECHNOLOGY
Juanjuan Niska, CFA
UTILITIES
Victor Cherian, CFA
ASIA CYCLICALS
Devashish Chopra
BANKS
Anita Killian, CFA
INFORMATION TECHNOLOGY
Juanjuan Niska, CFA
UTILITIES
Victor Cherian, CFA
ASIA CYCLICALS
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I'm a contrarian by nature with a long time horizon and I place significant emphasis on downside mitigation.

I look for mispriced but valuable franchises that can withstand the cycle and come out stronger on the other side.

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I believe that recognising the themes in technology ahead of the market is key and that having patience is vital.

I look for quality companies with strong management teams, differentiated technology and solid balance sheets.

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I believe consistency, sustainability and stability win in the end.

I look for government-supported companies with favourable regulation, growth opportunities and management teams that can deliver that growth.

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I believe the ability to develop and defend contrarian views will help drive outperformance over time.

I focus on the long-term trends for cyclical businesses, thinking about what the company would normally earn in a year rather than focusing on the large swings typically seen in the short term.

What sets us apart

Our broad and diverse product range helps clients build the emerging markets exposure they want

Jawan Parker
Director of Investments, Asia
Wellington offers more than 20 emerging markets equity strategies — from regional to country-specific, broad-based to sector-focused, and thematic to systematic. That breadth enables clients to achieve the exposure that best suits them.

wellington management video screenshot
Investing in emerging markets: To see deeper, go further

View white paper

View Emerging Market Development Fund

NEXT FUND

Seeing what's next

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In-depth research and our heritage in emerging markets, combined with our global reach, enable us to identify transformative trends at an early stage. We’re well placed to identify these themes, which we believe will create the long-term opportunities of the future.

About this fund

The Fund primarily invests in the equity securities of companies based in emerging markets that we believe will benefit from themes relating to structural and economic development.

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

Key features

  • Invests in themes and development trends in emerging markets
  • Provides exposure to development opportunities that are underrepresented in broad indices
  • Seeks diversification through risk-weighted allocations

The pace of change in emerging markets is accelerating

Economic development is driving structural growth, providing new areas of investment opportunity
80 %

of the Philippines’ population has no access to finance.1 We believe as emerging markets mature, companies in their financial services sectors will benefit.

23 rd

is China’s current world ranking for robot density. China aims to be one of the top 10 most intensively automated nations by 2020.2 Automation and robotics are key drivers of growth for emerging markets.

1.9 bil.

people globally lack access to clean water.3 Sustainable development is a key policy objective for many emerging governments.

2 beds

per 1,000 people in hospitals in Brazil,4 compared with five in developed markets. Growth in health care provision is a multi-decade theme.

1Asian Banking & Finance, 16 July 2018
2International Federation of Robotics, press release, 7 February 2018
3World Health Organization, press release, 12 July 2017
4World Bank, December 2014. More recent data is unavailable from this source and current data could differ

The four forces of structural change

Increasing the efficiency of the factors of production through technology, innovation and institutional reform

Examples of investment themes:

  • Automation & robotics
  • Logistics & infrastructure

Using available resources with consideration for future generations and the environment through alternative energy, waste management and recycling

Examples of investment themes:

  • Environmental consciousness
  • Energy efficiency

Ensuring stable progress in quality of life through changing patterns of behaviour and preferences in how time and money are spent

Example of investment themes:

  • Social empowerment
  • Digital connectivity

Broadening the range of beneficiaries of economic progress as measured by access to health care, education and finance

Example of investment themes:

  • Health care provision
  • Financial-market deepening

The four forces of structural change

four forces graphic

ENHANCED PRODUCTIVITY

Increasing the efficiency of the factors of production through technology, innovation and institutional reform

Examples of investment themes:

  • Automation & robotics
  • Logistics & infrastructure

SUSTAINABILITY

Using available resources with consideration for future generations and the environment through alternative energy, waste management and recycling

Examples of investment themes:

  • Environmental consciousness
  • Energy efficiency

IMPROVED LIVING STANDARDS

Ensuring stable progress in quality of life through changing patterns of behaviour and preferences in how time and money are spent

Example of investment themes:

  • Social empowerment
  • Digital connectivity

INCLUSIVENESS

Broadening the range of beneficiaries of economic progress as measured by access to health care, education and finance

Example of investment themes:

  • Health care provision
  • Financial-market deepening

Five cities in five days: Grassroots research at Wellington

How do you get to the heart of a local market as large and dynamic as India’s? Go see it. Portfolio Managers Liliana Dearth and Simon Henry believe that getting a holistic view of opportunities in emerging markets requires getting on the ground and meeting with consumers — face to face, in their homes, and on the street.

wellington management video screenshot
Investing in emerging markets: To see deeper, go further

View white paper

View Emerging Markets Systematic Equity Fund

NEXT FUND

Evaluating companies, piece by piece

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We look deeper, sifting through data to find the drivers of emerging markets equities. Our systematic process combines multiple signals across various time horizons and uses a robust risk framework, aiming to capture alpha opportunities.

About this fund

Actively managed against the MSCI Emerging Markets Index, the Fund seeks to deliver long-term returns through a systematic approach.

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

Key features

  • Focuses on the key drivers of stock alpha across the market-cap spectrum
  • Builds a diverse portfolio designed to adapt to changing market regimes
  • Uses a proprietary risk framework to seek improved alpha capture

Systematic process

Our proprietary models aim to deliver a robust, cost-effective portfolio, drawing on our extensive experience in emerging markets.
Final Portfolio

Exploiting market inefficiencies

Systematic investment approaches can be particularly well suited to emerging markets

David Elliott
Co-Director, Quantitative Investments
Emerging markets equities are relatively inefficient. We believe this creates opportunities for systematic investment strategies across the full breadth of the asset class.

wellington management video screenshot
Investing in emerging markets: To see deeper, go further

View white paper

View Emerging Local Debt Fund

NEXT FUND

Rigour finds the hidden gems

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Wellington has been investing in emerging markets debt strategies for around 30 years and understands the importance of detailed research. Disciplined analysis lies at the heart of our approach.

About this fund

Actively managed against the JP Morgan Government Bond Index — Emerging Markets Global Diversified, the Fund seeks long-term total returns by investing primarily in emerging markets local-currency-denominated bonds.

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

Key features

  • Seeks to identify and exploit local interest-rate and currency opportunities on separate but parallel tracks
  • Blends the rigour of a quantitative framework with deep fundamental analysis
  • Builds a global perspective through collaboration across regions and disciplines

Robust analysis

We aim to deliver long-term returns with our Emerging Local Debt Fund through a combination of robust analysis and risk management
GLOBAL PERSPECTIVE
RATES
CURRENCIES
RISK MANAGEMENT
robust analysis graphic

DISTINCTIVE APPROACH

Our process focuses on the two critical drivers of emerging local debt returns: interest rates and currencies. We apply both the rigour of quantitative models and fundamental research to derive differentiated insights.

RESEARCH

We make decisions in the context of the global environment, benefiting from our broad research platform.

RISK MANAGEMENT

Risk management is integral to our investment process. We evaluate downside risk and conduct sensitivity and scenario testing at the portfolio, country and security level.

Risk management is integral to our investment process. For every holding, we evaluate downside risk while conducting sensitivity analysis and scenario modelling.
We make decisions in the context of the global environment, benefiting from our broad research platform.
Our process focuses on the two critical drivers of emerging local debt returns: interest rates and currencies. We apply both the rigour of quantitative models and fundamental research to derive differentiated insights.

What sets us apart

Our global research resources help us dig deeper across emerging sovereign and corporate debt markets both locally and externally

Jim Valone
Fixed Income Portfolio Manager
We believe that deploying capital with conviction where our research has identified opportunities enables us to add the most value for clients.

wellington management video screenshot
Investing in emerging markets: To see deeper, go further

View white paper

Investment in the funds described on this website carries a substantial degree of risk and places an investor’s capital at risk. The price and value of investments is not guaranteed and can go down as well as up. An investor may not get back the original amount invested and an investor may lose all of their investment. Investment in the funds described on this website is not suitable for all investors. If an investor is in any doubt as to the suitability of an investment in a fund, an investor should consult an independent financial advisor. The information on this website does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security including, but not limited to, shares in the funds. An investor should only invest in a fund once that investor has carefully read and understood the prospectus and KIID for the fund which contain further information on the risks and features of the fund. Unless stated otherwise data is as at previous month end.

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