27.03.2014 - Sovereign funds wary of emerging market volatility
Sovereign wealth funds see emerging market turbulence as a long-term buying opportunity, but are wary of excessive exposure via some of their Western holdings such as luxury goods makers, a top investment official at Franklin Templeton said. David Smart, who heads a team managing sovereign funds and supranational clients at Templeton, said the US$5 trillion sector could afford to ride out volatile swings thanks to its long-term horizons. "In terms of our client base, we haven't seen any evidence of de-risking," he said. "If anything we've seen willingness to take advantage of opportunities. They have the ability to withstand volatility. They see it as a long-term acquisition opportunity."......................................Full Article: Source
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