Adam Kutas – Beyond emerging markets
As the portfolio manager for Fidelity Frontier Emerging Markets Fund, Adam Kutas frequently travels to distant locales in search of new investment opportunities. A core part of the Fidelity investment process is “kicking the tires” on companies by visiting management in their home countries and seeing the operations first-hand. As well, with emerging and frontier markets, having a deep understanding of a particular country’s economic and political environment is essential to fully comprehending the risk and rewards. This blog is intended to highlight this research process and help investors and advisors better understand the opportunities provided by exposure to frontier markets.
The biggest family-run IPO in history
Adam talks about Saudi Arabia’s economic shift from a traditionally internal focused economy, to one that is modernizing by using global best practices and reinvesting in businesses using global capital markets.
The 2018 Outlook for Frontier Emerging Markets
Adam gives his outlook for frontier emerging markets for 2018.
Saudi Arabia – real reform or more of the same?
Adam talks about investing opportunities in Saudi Arabia, which although one of the most liquid in emerging and frontier markets, has historically been unavailable for global investors to invest in.
Argentina: Open again for business
Adam talks about how positive trends continue in Argentina, as post the mid-term elections that occurred in October the hope is that the country’s progress will continue.
Colombia: Signs of a bottoming market?
Adam talks about Colombia, and how investor sentiment and equity valuations are attractive in the country, which is emerging from a long recession.
Morocco: the next Motor City?
Adam talks about the growing domestic auto production industry in Morocco, a North African country only 15 kilometres away from Europe that has a favourable trading relationship and historical linkages with the EU.
Solar Power: transformative to EM and FM countries?
Adam talks about the global rise of solar power and how EM and FM countries should experience a bigger benefit from solar given three key factors: geography, energy import reliance and cost of capital.
Hunting for frontier ideas in emerging markets – focus on the ‘Four neighbours’
Adam talks about why some EM-based companies growing aggressively in frontier markets, and explains the “Four neighbours” phenomenon.
The Middle East: An emerging land of opportunity
After spending more than two weeks in the region, Adam reports that the United Arab Emirates and Saudi Arabia are aggressively embracing private capital – and transforming the Middle East in the process.
A landmark IPO in Saudi Arabia
Adam reports from atop the Kingdom Tower in Riyadh, Saudi Arabia, where collapsing oil prices have resulted in some interesting privatization efforts, the centerpiece being the planned IPO of Saudi Aramco, the national petroleum and natural gas company.
Oman: An emerging tourism mecca
Adam reports from the capital city of Muscat in the Middle Eastern country of Oman, where he’s investigating opportunities in Oman’s booming tourism sector.
The transformation of Dubai
Reporting from Dubai in the United Arab Emirates, Adam talks about the city’s emergence as a financial hub and the pivotal role played by Shariah compliant bonds (i.e., sukuk), which are spurring growth in emerging Islamic markets.
United Arab Emirates: More than a petro-economy
Adam reports from Abu Dhabi in the United Arab Emirates, where the country is looking to reduce its dependence on oil exports by expanding its tourism infrastructure with new theme parks and museums.
Poland: Driving growth for frontier Europe
Reporting from Warsaw’s Palace of Culture and Science, Adam discusses Poland’s essential role as a capital source for frontier European markets and where he’s finding attractive opportunities.
Mirror games: Government’s changing role in emerging and developed markets
While government risk has been almost exclusively associated with emerging markets, Adam Kutas says that may no longer be the case.
Nigeria: An evolving opportunity set
While challenges remain for Nigeria, Adam believes there’s no shortage of opportunities for investors willing to take a long-term view.