INSIGHT-Emerging markets industry sinks into post-boom soul searching

martes 1 de marzo de 2016 14:03 GYT

* Emerging market mania once flabbergasted even specialists

* Pension fund wanted to put most of its money in high-risk sector

* Now emerging specialists slashing their businesses and jobs

* Barclays bank pulls out of Africa after a century

* Good emerging market firms dragged down with the bad

By Sujata Rao

LONDON, March 1 (Reuters) - After the dotcom bubble and the global credit crunch, it's the turn of the emerging markets industry to sink into post-boom soul searching.

The near mania that once flabbergasted even emerging market specialists is gone. Now many of the firms that grew to serve investors in the likes of China, Brazil or South Africa are slashing their businesses and jobs, with more cuts to come.

If proof were needed that global investors have gone off developing economies, it came in Tuesday's announcement by Barclays that it is pulling out of Africa after more than a century.   Continuación...