Trade of the month: Emerging markets underlyings

Emerging markets have always captured the imagination of investors and investment firms, so it is natural that they feature in structured product markets. Volatilities of emerging markets indexes and equities are usually significantly higher than those in developed markets, while interest rate levels in such countries are also often higher than in mainstream markets and stocks usually pay fewer (or no) dividends.

Most investors that want to gain exposure to emerging markets will want to have