The document discusses the 2014 outlook for Global Emerging Markets (GEM) equity strategy, highlighting trends in various sectors such as IT, industrials, energy, and materials. It notes the secular decline of EM profitability relative to Developed Markets (DM) and the impact of state capitalism and resource nationalism on EM returns. The report also compares net margins between EM and DM across different sectors and provides a valuation outlook.
doj/DataSet10/EFTA01451004.pdf
{"title":"GEM Equity Strategy Outlook 2014","document_date":"December 2013","document_type":"tabular","document_subtype":"financial report","key_organizations":["Deutsche Bank"],"reference_numbers":["DB-SDNY-0107092","SDNY_GM_00253276","EFTA01451004"]}