Hi Joe Iagulli, The emerging markets issue is not one I have thought about, but I will thanks for bringing that up. My initial thought would be that I am okay if the EM Index is dominated by a few large firms. If that is reflective of the EM stock market.
I would still have the same concerns with active management, it’s so hard to predict what will happen in the future. One might argue that it is even more difficult to be an active manager in the EM space given some of the data may not be as reliable.
But, again thanks for bringing it up it is an area I will do some more research on.