Collegial approach, leveraging global investment team: Ongoing dialogue/open exchange of information and ideas
 

Weekly firm-wide Macro Meeting: Discussion of major market events, during which team seeks to identify:
 

• Longer-term structural themes and implications for emerging markets
   

• Shorter-term trading opportunities
   

Local market intelligence provided by teams on the ground in EM economies
 

Input from strategy/economic research team using data from proprietary economic models
 

Debate is actively encouraged: No need to conform with “house view”