Most Canadian investors focus on developed markets, mainly in the U.S., Canada, and parts of Europe. However, there's a world of untapped potential in select emerging markets—regions that drive a substantial portion of global GDP. While these markets carry a unique blend of risks, they also offer powerful growth opportunities that investors shouldn’t overlook.
On this episode of The Unlimited Podcast, Brian explores the world of emerging markets investing with Rohit Khuller, Partner and VP of Investment Management at Letko Brosseau & Associates Inc. As the Lead Portfolio Manager of the firm’s Emerging Markets Equity portfolio, Rohit breaks down what defines emerging markets, highlights the investment opportunities they offer, and shares examples of some of the fund’s top holdings.
Rohit Khuller is Vice President & Partner at Letko Brosseau & Associates, an independent investment manager, managing approx. $18 billion in assets, with offices in Montreal, Toronto and Calgary. In addition to his role as Portfolio Manager, he is a member of the firm’s Investment Council, overseeing portfolio strategy and risk management for all of the company’s assets, and he is the lead portfolio manager responsible for the firm’s emerging markets equity investments. Prior to joining Letko Brosseau, Mr. Khuller’s career in various industries such as automotive, aerospace and banking in several countries enabled him to deepen his knowledge in different fields. Rohit has successfully completed the General Management Program (GMP) from Harvard Business School, has an MBA from McGill, a bachelor’s in engineering from Delhi College (B. Eng), and is a CFA charterholder.
Timestamps
0:00 Disclaimer and Intro
7:19 Letko Brosseau's Approach to Investing
10:21 What is Emerging Markets Investing?
12:46 Risk in Emerging Markets
14:52 Opportunity in Emerging Markets
22:25 Valuation of Emerging Markets
25:04 Letko Brosseau's Research Process
29:43 What's Happening in Major Emerging Markets?
35:37 Managing Currency Risk
37:49 Letko Brosseau's EM fund's largest holdings
42:24 If Rohit could do anything, what would it be?
44:54 Outro