Kevin Daly

Senior Investment Manager on the EMD team

SPEAKER PROFILE

Kevin is a Senior Investment Manager on the EMD team.
Kevin joined Aberdeen in 2007 having spent the previous ten years at Standard & Poor’s in London and Singapore.
During that time Kevin worked as a Credit Market Analyst covering global emerging debt, and was Head of Origination for Global Sovereign Ratings.
Kevin was a regular participant on the Global Sovereign Ratings Committee, and was one of the initial members of the Emerging Market Council, formed in 2006 to advise senior management on business and market developments in emerging markets.
Kevin graduated with a BA in English Literature from the University of California, Los Angeles.

 

 

ABSTRACT

Welcome to new Frontiers

Frontier market economies are projected to have some of the highest economic growth rates in the world over the next five years, driven by factors such as the low penetration of goods and services, favourable demographics, rapid urbanisation, technology transfer, and increasing availability of credit to the private sector. In contrast to many developed countries, frontier markets have a young, growing population that will contribute to a developing workforce and increased domestic consumption. Encouragingly, governance and accountability have found their way up the agenda in recent years. Political leaders generally understand the need for orthodox economic management to maintain a stable economy and attract inward investment. The electorate tend to be much better informed, which means corruption and accountability are now heated topics during elections. Several of the most populous frontier nations, including Pakistan and Nigeria, have seen a genuine entrenchment of democracy, while others such as Myanmar and Sri Lanka have emerged from decades of obscurity. Aberdeen has been at the forefront of investing in Frontier Markets over the past decade, in both equity and debt markets. We use the same respective investment processes to screen frontier market companies and countries based upon comprehensive research that requires rigorous due diligence to mitigate the inherent risks in frontier markets. This may be a ‘new’ asset class for sailing the future, but it’s something we’ve been doing for a long time.