Following the US presidential election in November, emerging market (EM) equities swooned due to fears about the potential negative effects of protectionism, rising interest rates, and a stronger US dollar. However, pockets of EMs have rebounded since then, and we see a range of attractive investment opportunities still to come. Many EMs are largely insulated from US trade policy by virtue of their domestically driven economies and/or improving fundamentals. And rising rates accompanied by stronger global growth could be positive for some EMs, especially those with solid macro and policy backdrops.