Most investors either ignore emerging markets or hand their money to active managers who underperform. Academic research points to a better approach: factor investing in emerging markets, targeting the company characteristics that have persistently driven higher returns.
New Morningstar research reveals the link between fund fees and performance has strengthened dramatically. A decade ago, some expensive funds generated enough alpha to partially justify their costs. Today, fees explain almost everything. The skill component has essentially vanished.
Robin Powell
Jan 229 min read
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