Can you briefly walk us through performance over the last call it year or year and a half? Yeah. I mean, it's been an interesting journey. Right? Last year in in E. M. You had the Russia invasion of Ukraine. And that, that led to Of course, one was the the human tragedy involved, but it also led to a lot of disruption in the supply chains, and, consequent impact on the market and sentiment. And this year, as you pointed out, you know, Brazil India, they're done quite well.
The earnings growth for the companies, that you see here, have been reasonably, strong. And and hence you see the, the market performance. And on Russia, you mentioned kind of excluding the the tragedy with the Russian invasion of Ukraine, but then the subsequent MSCI exclusion of Russia. So any implications or can you comment on the implications of the exclusion of Russia, from an investable opportunity universe?
Look, you know, Russia being a commodity exporter, that led to shocks in the supply side. And that had global ramifications. From a market's perspective, you could argue that over the long term, countries like Indonesia will benefit because they are net commodity exporters. Right. But by and large, countries like China India, Brazil. These are large domestic markets. So In many ways, they're they're reasonably, shielded, from what's been happening, in that part of the world.