Pzena Investment Management’s Rakesh Bordia on investing in deep value equities across Emerging Markets

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INTERVIEWSERIES

Rakesh Bordia, Principal and Portfolio Manager, Pzena Investment Management

October 2026

 

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In this exclusive interview, Rakesh explains the concept of classic deep value equities investing from a practical perspective. He discusses Pzena’s approach to navigating the challenges and opportunities geopolitical risk presents in Emerging Market equities investing, the impact of concentration in a few select semi-conductor and memory stocks across EM and what he is seeing in the EM opportunity set at the cheapest spectrum of the market, that is unique today, relative to past cycles.

Watch the full interview where we ask Rakesh:

  • For an institutional audience who knows "value investing" in the abstract, what does classic deep value actually mean in practice?

  • Given Emerging Markets are heavily benchmark-concentrated in a handful of semiconductor and memory names, what should investors be aware of?

  • What does the rise of passive and quant-driven flows, combined with A.I. driven momentum, mean for a deep value approach?

  • When you look at the opportunity-set in Emerging Markets today, what are you seeing in the cheapest part of the market that you don’t normally see?

  • Geopolitical risk is always part of the Emerging Market landscape. How does Pzena navigate these challenges and/or opportunities?  

Rakesh Bordia, Principal and Portfolio Manager, Pzena Investment Management
Rakesh is a Principal and Portfolio Manager at Pzena Investment Management. He is a co portfolio manager for the Emerging Markets and International strategies and became a member of the firm in 2007.

Prior to joining Pzena Investment Management, Rakesh was a principal at Booz Allen Hamilton focusing on innovation and growth strategies, and a software engineer at River Run Software Group.

He earned a Bachelor of Technology in Computer Science and Engineering from the Indian Institute of Technology, Kanpur, India and an M.B.A. from the Indian Institute of Management, Ahmedabad, India.

 
 
 
 
 

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