19 Feb 07:  Equity markets that outperformed in 2006 are expected to continue their strong growth for 2007, according to Robin Geffen, chief investment officer at Neptune. The most notable examples of 2006 outperformers are China and Russia, he said. “Key elements in their dramatic growth are the building middle classes and wage growth,” he added. “We believe these economies are emerging at a quicker rate than most people expected and should not be underestimated in terms of their global importance.” As regular readers of our previous site will know, we have been bullish on large scale emerging growth countries for several years. What is happening across the other side of the globe defies description in terms of sheer size. I think it was around the time of Hurricane Katrina that the penny really started to drop that the locomotive of global growth might just be stronger than anyone ever imagined.This is a note we published from September 2005 in the immediate aftermath of that major event.(vftb_160905.pdf) 

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