TRG expects EM risk premiums to fade

The global financial crisis has made clear the faulty logic justifying risk premiums on emerging-market securities, which suggests these are going to fade, says Jorge Mariscal, co-founder and head of global strategy at The Rohatyn Group, a $3 billion New York-based hedge fund manager specialising in emerging markets.  He credits an 8% gain in TRG's Asian equities fund in 2008 in part to the firm's read of what's happening to the United States and its role in the world economy.  Mari…