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Opalesque Exclusive: Emerging markets specialist Exotix on the long term values of emerging markets, looking to develop involvement in the Iraqi stock market Benedicte Gravrand, Opalesque London: Amir Zada, associate director at Exotix, an investment broker specialising in emerging markets and frontier markets with expertise on illiquid, distressed, undervalued debt, spoke to Opalesque about some recent issues related to emerging markets and especially Africa.

Emerging markets, and of late, frontier markets, have been the way out of economies suffering from subprime-related troubles. This month (July) alone saw London-based firm Fincere Ltd. launching a global emerging markets hedge fund, HSBC’s fund arm announcing plans for a frontier market fund, Calstrs looking to allocate to frontier markets and news of sovereign wealth funds turning to emerging markets. Although a recent Fitch report says there has been a sharp acceleration in inflation in several EM economies, “posing a major challenge to relatively young monetary and inflation targeting regimes”, nevertheless, activity indicators for most emerging (and developing) market economies remain strong. Fitch forecasts still impressive growth of around 6% this year, albeit down from more than 7% in 2007” (......................

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