Asia | 74.2 % |
Latin America | 12.2 % |
Middle East | 6.8 % |
Africa | 2.7 % |
Eastern Europe | 2.0 % |
North America | 1.2 % |
Europe | 1.0 % |
Total % Equities | 100.0 % |
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Market environment
Over the month of July, emerging markets went down, suffering from fears of a more severe-than-expected economic slowdown in the United States.
In this environment, the Chinese, Latin American and South Korean markets declined, at the exception of India that went up.
The Chinese Communist Party's Third Plenum did not adopt any major measures to support the economy.
China cut its one-year medium-term lending facility (MLF) rate by 20 basis points to 2.2%. However, these measures were not enough to support the Chinese markets.
Latin American markets also declined due to political uncertainties and the weakness of agricultural commodity prices since the beginning of the year.