As of April 30, 2021, Ivy Investment Management Company is now part of Macquarie Asset Management. Macquarie Asset Management (MAM) provides specialist investment solutions to clients across a range of capabilities including infrastructure & renewables, real estate, agriculture, transportation finance, private credit, equities, fixed income, and multi-asset solutions.
Emerging markets have come a long way from their boom-and-bust commodity cycle of the 1990’s. Today’s emerging markets are leapfrogging several developed markets in terms of innovative technology and growth opportunities.
From 2013 to 2015, we faced headwinds as a low interest rate environment challenged our pro-quality investment approach and rewarded companies that piled on debt. Once again, we are experiencing a low interest rate environment; however, this time the Fund has performed well. What’s different this time?
Last year, investors had to choose between quality and growth. When forced to pick, we chose quality every time. Get our views on the current environment.
In an unpredictable 2020, the lesson learned was to maintain the Fund’s core stock selection discipline. We believe the market ultimately rewards small caps that can deliver sales and earnings growth and returns on capital.