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Vontobel CIO: Opportunities in Emerging and Global Markets

The Long-Term Value of a Quality Approach

Matthew Benkendorf

Matthew Benkendorf
Chief Investment Officer, Portfolio Manager, Senior Research Analyst
Vontobel Asset Management

Vontobel Asset Management CIO Matt Benkendorf of the Quality Growth Boutique discusses emerging and global equity markets, the impact of the COVID-19 pandemic and recent volatility, and the opportunities that exist in higher quality companies around the world. Replay of a call held June 4, 2020, moderated by Barry Mandinach, Executive Vice President, Virtus Investment Partners.

Topics discussed:

• How the global pandemic is changing the investment landscape for active managers, the impact on Vontobel’s bottom-up quality approach, and the risks they are navigating.

• Four ways Vontobel took advantage of the market sell-off to incrementally upgrade its portfolios.

• Why German sports apparel brand Adidas is owned in the EM portfolio.

• With U.S. equities outperforming international over the last decade, why investors should still diversify outside the U.S.


• The long-term impact of the COVID-19 pandemic on emerging markets vs. developed markets, including the implications of the work-from-home dynamic.

• Why Vontobel chooses to own a few select Chinese companies at a time when the MSCI EM Index has a 40% allocation to China.

• The structural and social hurdles for European companies that are trying to do business and reward shareholders.

• Where Vontobel is finding the best global opportunities now.

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Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk. Foreign & Emerging Markets: Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic, and market risk. Geographic Concentration: A fund that focuses its investments in a particular geographic location will be highly sensitive to financial, economic, political, and other developments affecting the fiscal stability of that location. Market Volatility: Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the fund and its investments, including hampering the ability of the fund's portfolio manager(s) to invest the fund's assets as intended. Prospectus: For additional information on risks, please see the fund’s prospectus.

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