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    The growth engine of the global economy

    While developed market economies struggle with substantial debt burdens and forced austerity programmes, emerging markets continue to post strong growth levels and lead the global economic recovery. 

    Such fundamental drivers as rapid productivity gains, generally favourable demographics, significant natural resources, lower financial penetration and an increasingly affluent middle class should continue to underpin robust, long-term GDP (Gross Domestic Product) growth in Emerging Markets.

     

    <h3> AXA IM's Emerging Market Fixed Income Expertise</h3> <p> Damien Buchet, Head of emerging markets at AXA fixed income , discusses how he creates value in this compelling asset class with his two flagship funds - AXA WF Global emerging markets Bonds and AXA WF emerging markets local currency Bonds.Key highlights:- Investment case for Emerging Market fixed income - Characteristics of funds and investment approach - Performance update</p> <a href="http://www.axa-im-webtv.com/lu/axa-im-s-emerging-market-fixed-income-expertise-video-790.html"><img alt="AXA IM's Emerging Market Fixed Income Expertise" height="129" src="http://www.axa-im-webtv.com/corp/uploads/20110915-135303/attachedFiles/Media/thumbnail_url/8a5656f09d7a8581d05cfc6f21d80cb8.jpg" width="230" /></a>

    Emerging Market Fixed Income

    Emerging Market Fixed Income has grown significantly as an asset class to over US$ 10 trillion1 in outstanding debt and has an improving credit rating (reaching BBB- in 20112).  AXA IM continuously monitors different areas of the market in order to identify any relative value opportunities. 

    The team's expertise in both hard and local currency markets affords investors the opportunity to choose from different risk/return profiles.

     


     

    Emerging Market Equity

    Emerging Market Equity provides an opportunity to capture the attractive, sustainable growth arising from the rapid development in these markets. AXA IM's approach relies on the identification of companies which are consistently generating superior Return on Invested Capital (ROIC). 

    The team allocates to sectors rather than countries, picking the most attractive stocks in each. AXA IM believes that in an increasingly globalised world, many industries are now global in nature and that ROIC can only be sustained through competitive advantage.

    (1) Source: BIS Quarterly Review, March 2011
    (2) Source: AXA IM, 31st March 2011