EM Fund Stock Picks & Country Commentaries (July 12, 2026)
Chokepoints in the South China Sea + Malacca Straits, Taiwan AI concentration risks, trouble w/ index based Indonesia/Malaysia country ETFs, Central Asia's opening markets, June/Q2 fund updates, etc.
As of mid July, some June/Q2 fund updates (our continuously updated post containing all funds is here) have become available along with new emerging market research starting with some non-EM pieces:
🔬🌐 The earnings party is real – but the bill is coming (Robeco) - Global earnings are surging but a hawkish Fed pivot, and stretched AI valuations argue for a cautious rotation toward cyclicals, value, and international diversification rather than chasing momentum.
Earnings surge could stoke inflation
Rate expectations have flipped to a more hawkish bias
Rotation towards companies with resilient cashflows could protect against multiple compression
🔬🌐 All Quiet on the Proxy Front, Though Storms Are on the Horizon (TCW) - Despite the seeming calm, some legal, regulatory, and thematic action swirls just below the surface. As proxy season 2026 comes to a close, TCW’s proxy team is reflecting on the key factors and themes that investors have confronted as we continue to navigate ever-changing proxy waters:
🗄️ Fund documents / updates; ⚠️ Disclosures or restricted access e.g. based on your location, investor status, etc.; 🇼 Wikipedia page; 🔬 Research analysis (including articles/blog posts from fund managers, etc.); 🎥 Video; 🎙️ Podcast; 🎬 Webinar; 📝 Transcript; 📰 Newspaper/magazine article; 📯 Press release; 💻 Substack/blog/website article; ✅ Our own posts; 🗃️ Linked archived article; ⏰ Upcoming webinar or event.
📈 Contributors; 📉 Detractors; 🏧 Transactions; 🚩Discusses/mentions stocks by name.
Disclaimer: We usually use Deepseek to summarize or extract stock names and assign performance emojis. Like all AI, Deepseek is not perfect and regularly adjusts their model which can lead to mistakes/misunderstandings/misinterpretations of the data its given. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content.
🌏 New Asia Fund Documents & Research
🎙️🌏 Peter Lewis’ Money Talk: Ruchir Desai, Co-Fund Manager of the AFC Asia Frontier Fund Discusses His Positive Outlook for the Second Half of 2026 (RTHK Money Talk) 39 Minute Mark - On Friday’s “Peter Lewis’ Money Talk” podcast, I’m joined by Francis Lun, the CEO of Venture Smart Asia, and John Schofield, Managing Director of Tempus Investment. We also get an update on Asia’s frontier markets with Ruchir Desai of Asia Frontier Capital.
🔬🇨🇳 China: Late to the AI Sprint, Strong in the Marathon (BNP Paribas AM) - In today’s global artificial intelligence (AI) industry, the US leads in frontier models and accelerator design, Taiwan manufactures the most advanced chips, South Korea supplies high-bandwidth memory, and investors crowd into the most obvious winners. China — constrained by export controls and short of leading-edge semiconductors — is often seen as the laggard. That narrative is too simple. It may also be wrong. In this article