On a global scale there is more reason to be optimistic about Emerging Markets (EM) rather than developed ones.

This opinion is held by Saker Nusseibeh, CEO of Hermes Investment Management. Mr Nusseibeh explained that midway through 2018 the company predicted that global markets would experience both volatility and a correction. Both of these events took place.

Still, EMs are the way forward. Mr Nusseibeh discussing China, said that it is slowing down by 6 percent a year but “it is still doing much better than everyone else.” He adds that it is almost irrelevant of the Chinese economic numbers as the growth of Chinese consumerism will continue.

Developed markets are dealing with political uncertainty across the board. President Trump’s US must deal with the “self-inflicted wound of the government shutdown which threatens to compress growth for this quarter and is likely to adversely affect annual numbers, too.”

Also, Mr Trump withdrawing from the Paris agreement on climate change and the Iran nuclear deal has prompted both EMs Russia and China to be more assertive according to Mr Nusseibeh. He adds that China in response to US activities has become more vocal about Taiwan and Southeast Asia in general and Russia regarding Syria.

Brexit is the main cause of concern for the UK and EU.

Mr Nusseibeh said: “Given this level of uncertainty, I am more confident in the possibility of finding long term value in markets that are still emerging than the signs that I see in more established ones.”

Hermes, headquartered in London, manages £36 billion in assets and offers a broad range of specialist, high-conviction investment strategies spanning listed equities, credit, real estate, infrastructure, private debt and private equity.