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From Komfie Manalo, Opalesque Asia:
Three leading global asset managers expressed confidence that emerging markets will continue to deliver on the upside in 2010 and forecasted an encouraging future for emerging markets asset classes.
Batterymarch Financial Management, an affiliate of UK-based asset manager Legg Mason which manages $703bn, said they expect a large portion of global growth would be driven by Asia and other emerging markets. The firm added that the Chinese economic activity, supported by improvement in the US, would be key to the economic environment. Overall, Asian markets continue to offer better than expected earnings growth than most developed markets, as well as solid profitability. Furthermore, earnings estimate revisions are rising across Asia and are positive across the region as analysts look through to future recovery.
Ray Prasad, Batterymarch Financial Management, said on Asia-Pacific equities: "Over the shorter term, Asian markets appear to be entering an environment where outperformance may shift amongst sectors, sometimes sharply, with the potential for meaningful corrections within sectors from time to time, but with little damage to the asset class as a whole. In the long term, the combination of attractive valuations, superior growth prospects and solid balance sheets at the sovereign, corporate and household level, mea...................... To view our full article Click here
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