Robeco, one of Europe’s largest emerging market asset managers, has returned to Argentine equities after pulling out around 2016-2017. Since Milei took office in late 2023, Argentina has abandoned capital controls and monetary manipulation, with inflation sometimes exceeding 200% annually. The Merval index posted gains of over 60% during certain rallies in 2024, and the Global X MSCI Argentina ETF has received $63 million in inflows year-to-date. This reallocation comes as the country, downgraded to standalone market status by MSCI in 2009, could potentially regain emerging market status.
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