Robeco returns to Argentine stocks after nearly a decade, signaling broader shift in emerging market sentiment

It took roughly ten years for Robeco, one of Europe’s heavyweight emerging-market asset managers, to decide Argentina was worth the risk again. The Dutch firm has re-entered Argentine equities after pulling out around 2016-2017, joining a growing chorus of institutional investors who seem to believe the country’s “this time is different” pitch might actually be different this time. The Milei effect on institutional appetite Since Milei took office in late 2023, his administration has pursued what’s been described as economic “shock therapy” — ripping off decades of capital controls, currency manipulation, and inflation that at times exceeded 200% annually. Argentina’s Merval index posted gains exceeding 60% during certain rallies in 2024. The Global X MSCI Argentina ETF has absorbed $63 million in inflows year-to-date, a figure that would have seemed almost absurd just a few years ago when the country was essentially uninvestable for most institutional mandates. Why crypto investors should care about Argentine equities Argentina consistently ranks among the top 10 countries globally for cryptocurrency adoption, driven largely by citizens who learned the hard way that trusting the p...