Welcome to the third issue of our award-winning thought leadership magazine, Ampersand, where we delve into the diverse and dynamic emerging markets in Asia and beyond. Amidst a complex global environment marked by shifting growth trajectories and geopolitical tensions, investors are increasingly recognising the need for targeted, active allocation strategies to capture growth in this vital region. Our focus this edition is on the heterogeneous nature of emerging markets and the case for specialist approaches, particularly in Asia, where growth potential and risks are unevenly distributed.