In this episode of Trust Issues, we speak to Hiren Dasani, portfolio manager for Ashoka WhiteOak Emerging Markets Trust (AWEM), to talk about the outlook for emerging markets, after a strong 2025, what AWEM’s portfolio looks like today and how AWEM chooses companies in which to invest.
00:00 Introduction
01:14 Why emerging markets had such good performance in 2025
03:37 How AWEM distinguishes true quality companies from quality traps
06:31 Why AWEM prefers investing in non-state-owned enterprises
10:20 AWEM's overweight to developed market stocks that derive revenue from emerging countries
14:01 How AWEM invests in China and the outlook for Chinese stock markets
17:12 AWEM's advantage when investing in India and the outlook for Indian companies
21:17 How AWEM is finding opportunities in Poland
22:57 The outlook for AWEM's high-quality portfolio
25:37 AWEM's unique fee structure and aligning the interest of shareholders and management
27:32 What does the long-term horizon look like for emerging markets - has performance turned the corner?
32:21 Further information
32:40 Risk warning
Please note that this podcast was recorded on 12 January 2026.
