National Bank of Greece pulls portfolio ahead of EM index
Our portfolio of top equity picks in emerging markets rose 1.2 percent over the past week compared to -0.3 percent for the MSCI Emerging Markets Index. The outperformance was driven by solid gains in Banco do Brasil (+3.9 percent) and the National Bank of Greece (+6.1 percent). The portfolio has gone up 3 percent over the past four weeks compared to only 1.5 percent for emerging markets. As we highlighted in yesterday's update to Asia Pacific, the conviction list has expanded from 10 to 20 stocks so next week's update will reflect that.
Banco do Brasil remains top pick
-- Edited by Kevin McIndoe
Peter Garnry is the Head of Equity Strategy at Saxo Bank. Please check out his articles and trades here.