Senior Portfolio Manager, Dan Kelly, reviews the Korean government’s “Corporate Value Up” agenda, the effects of the most recent election results in Korea, and Mondrian’s positioning and outlook for the region.
Markets have staged an impressive rebound since April, but the underlying macro picture is far from resolved.
A weakening US dollar historically creates a fertile backdrop for emerging market assets, driven by enhanced capital flows, commodity tailwinds, and improved debt dynamics.
Global indices have rallied strongly off April’s lows, ending the quarter near all-time highs, with recent geopolitical shocks failing to disrupt the sharp recovery.
There has been a dramatic turnaround for markets over the past quarter. Investors have enthusiastically welcomed the possibility that global governments can successfully reorder trade policy with a limited impact on economic activity.
Market disruption often leads to mispricing, particularly when sentiment overrides fundamentals.
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