As the world settles into a new normal, we are witnessing the rise of new currencies. Emerging market currencies remain an under-owned and misunderstood asset class – yet they are often backed by countries with solid balance sheets and good growth fundamentals. In this report, our research team shows why emerging market currencies look set to outperform and how investors can best use them in a portfolio context. The document concludes by identifying which currencies investors should favor, depending on their domiciles and reference currencies.