## EM equities have performed nicely since March
## EM equities boosted by China and a weaker Europe
In reaction to a persistently weakening trend in economic data, the Chinese authorities announced a fresh stimulus package back in early April. Effects of those measures became visible pretty quickly in higher infrastructure investment growth, among others. China also profited from a rise in export growth as the global growth picture improved.
## Stabilising economic momentum and lower expectations
## Strong inflow into EM equity funds
## We hold on to our overweight position in EM equities
At this point, it is mainly the negative dynamics in Europe that justify a more positive stance towards emerging markets. These worsened dynamics probably have diverted a significant part of investment flows from Europe to EM equities.