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From Benedicte Gravrand, Geneva: Sandy Koifman, managing partner at the London and Geneva-based Bedrock Group (corporate website) shared his views with Opalesque on the global macro-economic trends around the themes of the Bedrock Global Themes Fund (which returned +7.3% in September (+14.5% YTD)), which are:

• –Global economic growth
• –Emerging Markets growing share of global economic valuations
• –Increasing divergence of supply and demand for hydrocarbons
• –Global pressures on commodities
• –Expanding demand for healthcare
• –Europe and Japan’s potential

The globe is producing wealth at an unprecedented rate (As an overview of the fund’s global themes), we believe that the world is facing probably the greatest tide of wealth creation that the world has ever seen. What we are going through now is the equivalent of the first stages of the industrial revolution. 17 years ago, less than 1 billion people had an economic life (i.e. working, earning money, spending and saving); the Berlin wall fell down and 350 million Eastern Europeans started to embrace that life. That was a 40% increase in the economic population. Roughly at the same time, China and India opened up too. The growth has been on fast-forward since then – compared to the industrial revolution which was a process that took 150 years.

  Emerging market theme: l......................

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