With the pace of vaccines rollout increasing, many investors are already planning for the post-COVID recovery in the global economy. Before the pandemic, the fastest growing economies in the world were in emerging markets (EM), and that trend is set to continue over the next decade and beyond. EM typically is under-represented in client portfolios, but when each of the four components of equity returns are critically examined: 1) earnings growth, 2) valuations, 3) currency, and 4) dividends, you can make a strong case for the opportunities EM equity investments present.