EEMEA Equity Strategy: Global Exposure Guide 2026 – EEMEA

研报英文原文证据摘录

EEMEA Equity Strategy: Global Exposure Guide 2026 – EEMEA

FoundationM By Sector

Domestic-demand sectors have the highest home-market exposure. Healthcare

equipment & services, utilities, food retail, real estate and financials have the highest share

of revenues generated in home markets, consistent with their local demand profiles.

Materials and Media/Tech remain the most globally exposed sectors. Materials

exposure is driven by commodity demand across Asia, China, Developed Europe and the

US, while Media/Tech exposure is heavily influenced by Naspers.

Developed-market exposure is concentrated in a small group of sectors. Pharma,

Materials, Transportation and Capital Goods have the highest exposure to developed

markets. Developed Europe remains the main developed-market revenue pool, while

direct US exposure is small outside Pharma, Materials and Transportation.

China exposure is narrow and commodity-led. Aggregate China exposure remains low at

c.3%, but is meaningfully higher in Media/Tech and Materials, largely reflecting Naspers

and South African commodity names.

Exhibit 21: Medtech, Utilities, Food Retail, Real Estate and Exhibit 22: Medtech, Consumer Services, Food, Beverage &

Financials have the highest share of home market revenues Tobacco and Utilities have the highest share of revenues

EEMEA: % Revenue Exposed to Home Markets by Sector generated inside EEMEA

EEMEA 66.5% EEMEA: % Revenue Exposed to EEMEA by Sector

H.Care Equip. & Serv.

Utilities

Food Retail EEMEA 79.5%

Real Estate H.Care Equip. & Serv.

Div. Financials & Business Serv. Cons. Services

Food Bev. & Tobacco Food Bev. & Tobacco

Insurance Utilities

Banks Food Retail

Retailing Telecom

Cons. Services Real Estate

Retailing

Energy

Div. Financials & Business Serv.

Capital Goods Banks

Telecom Insurance