The emerging markets asset class experienced a challenging quarter as negative news flow seemed to follow its largest component, China.
Despite political and COVID uncertainty, Japan is an attractively valued market which offers strong corporate earnings growth, a defensive dividend stream, and continued corporate governance improvements helping to unlock further value.
The semiconductor sector is in the grip of a cyclical upturn, after being thrust onto the front pages as the impact of acute shortages of certain chips is felt in many industries.
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All information is as of June 30, 2021 unless otherwise noted.
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