Emerging market strategist, Jonathan Schiessl believes that these economies have been underweight for a long time and investors are going through a shakeout at the current juncture.

Speaking on markets he said, "The story for equities still looks pretty good for the next six months. It will probably be more of a difficult time in the second half of next year. Markets were overdue a correction but ultimately we are heading higher."

He said, "There are less active investors in the markets today and therefore this market can push to extremes on both sides because without active investors or the role of active investors being less today than it was in the past, it can exacerbate the volatility that we are seeing."

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(Edited by : Abhishek Jha)