01-14-2026 • Quarterly outlook

EM Equities Quarterly Outlook

In our quarterly emerging markets equities outlook, we assess whether EM can outperform DM again in 2026. We also interview Jie Lu, Robeco’s lead China portfolio manager on his background, how China’s economy can overcome its many current challenges, and what the implications are for Chinese equity markets in 2026.

Read our quarterly emerging markets equities outlook

Authors

Head of Emerging Markets team

Head of Investments China

Summary

EM earnings growth likely to exceed DM, again
EM macroeconomic fundamentals are solid with lower levels of government and consumer debt
Investors remain under allocated to EM

Read our quarterly emerging markets equities outlook

Who we are

We are a global asset manager with strong capabilities in quant, credits, emerging markets and sustainable investing. Research is at the heart of everything we do, driving active investment strategies that aim to maximize alpha generation.