The M&G Global Emerging Markets Fund is built on a disciplined, bottom-up approach focused on identifying companies with stable and strong or low and improving returns on capital. The fund seeks to deliver consistent outperformance by investing across four distinct stock categories, each selected for its potential to generate alpha across different market cycles. With high active share and proprietary research, the strategy reflects a differentiated, long-term commitment to shareholder alignment and valuation discipline.
Why this fund
Distinctive
A robust bottom-up process that identifies companies with strong and stable or low and improving returns on capital, grouped into four distinct categories: quality, asset growth, internal change, and external change.
Disciplined
Every investment is underpinned by a consistent focus on capital efficiency, valuation and shareholder alignment, highlighting our belief that long-term stockmarket returns reflect the performance of individual companies, not economic growth.
Diversified
Investing across the four different categories and, in turn, geographies and sectors, provides a diversified source of alpha that enables the strategy to both perform and manage risk in different market conditions.
From fast‑growing economies to innovative companies reshaping global industries, emerging markets offer a breadth of opportunity — alongside meaningful complexity. To help investors cut through the noise, Michael Bourke, Head of Emerging Market Equities, breaks down both how we invest and why the asset class presents compelling prospects over the long term. Watch the videos below to gain insight into our process and the structural themes supporting the case for emerging market equities.
Why should investors be excited by emerging market equities today?
How does our approach identify opportunity in emerging markets?
Investment policy:
The fund aims to provide a combination of capital growth and income, net of the Ongoing Charge Figure, that is higher than that of the MSCI Emerging Markets Index over any five-year period. At least 80% of the fund is directly invested in the shares of companies that are based, or do most of their business, in emerging markets.
The main risks associated with this fund:
- The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective, and you may get back less than you originally invested.
- Investing in emerging markets involves a greater risk of loss as there may be difficulties in buying, selling, safekeeping or valuing investments in such countries.
- The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.
Further risk factors that apply to the fund can be found in the fund's Prospectus.
It is also important to note that:
The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.
Ratings and awards
Source: M&G, 2025. Ratings should not be taken as recommendation. Awards are not an indicator of future performance.
The team
Our Emerging Markets capability is supported by a highly experienced team spanning London, Singapore, Hong Kong, Mumbai, and Cape Town. This diverse group combines deep sector knowledge across financials, technology, healthcare, and infrastructure with regional insights into Asia, Latin America, and the Middle East. Together, they deliver rigorous research and disciplined portfolio construction, ensuring a robust foundation for long-term investment success.
Michael Bourke
Head of Emerging Market Equities
Michael Bourke was appointed fund manager of the M&G Global Emerging Markets strategy in October 2018. He joined the emerging markets team at M&G in 2015.
Before this, Michael spent 10 years as an emerging markets equities analyst and portfolio manager for Legg Mason and FPP Asset Management.
He previously worked at Deutsche Bank in roles related to equity derivatives trading.
Michael has a BSc in Computer Science and Accounting from the University of Manchester and an MSc in International Banking and Finance from Heriot-Watt University.
