EM equities rallied on AI-driven tech demand. EMC's performance for the quarter matched the benchmark as stock selection offset Korea/Taiwan underweights.

Emerging Markets ex-China equities gained over a volatile quarter, supported by commodity strength and attractive valuations.

Emerging Market debt rallied in the second quarter, as easing geopolitical and stagflation concerns lifted risk appetite.

Emerging Market debt had a volatile first quarter, as an initially supportive macro environment was rocked by an oil-driven geopolitical shock.

Emerging markets were relatively resilient in a volatile 1Q26, with mixed performance across segments.