“So you have all this cash flow. What are you going to do with it? You can give it out in dividends.”
He added that some companies in the developed world are expensive, but again emerging market companies don’t have that problem even though the emerging market index jumped last year.
“There is a lot of very expensive stuff out there. We are not part of that,” Semple said. He continued that the expected growth in emerging markets is inevitable.
“The capital markets in emerging markets are developing,” he said, “and will incrementally find itself as a much bigger part of the investing universe.”