Power Play: Bullish case for emerging markets in 2016

Young woman in pink sari with Taj Mahal in distance
Adrian Pope | Getty Images
Young woman in pink sari with Taj Mahal in distance

Emerging markets could be poised for a comeback next year after a dismal 2015.

AKT Wealth Advisors CIO Darin Richards tells CNBC's "Power Lunch" on Wednesday, he believes 2016 could be a solid year for returns in emerging market equities.

Read MoreChart: How does the Fed hike impact emerging markets?

"We are emphasizing countries that are beneficiaries of lower commodity prices (China and India). Inflation in these countries has fallen notably and their central banks have been able to cut interest rates to support growth," Richards said.

He believes growth in India will overtake China next year, but that doesn't mean China is not attractive.

"Although growth in China is expected to fall slightly next year, the quality of the growth has improved as consumption makes up a greater percentage of GDP and government spending is declining. Poor equity performance over the last few years has also acted to depress valuations, making valuations attractive relative to developed countries," Richards said.

The Shanghai Composite is up 12 percent year-to-date, while the Bombay Sensex is down 6 percent.