Hugh Young, the managing director of Aberdeen Asset Management in Asia, has told FTAdviser (Emerging markets turnaround underway: Young) there is a turnaround in sentiment in Asia and emerging markets as investors dip their toes back into the region following years of underperformance.
FTAdviser noted that emerging market funds have now seen five consecutive weeks of net new money flowing in, a sharp contrast to the 22 consecutive weeks of outflows seen previously.
Young also commented that the Aberdeen team had “held our nerve” during the periods underperformance and topped up their preferred stocks at cheaper levels with those companies had recently “bounced back.”
HOWEVER, Young has long been known for his bearish approach to Chinese equities and says that the state of the Chinese economy is a “mixed picture” plus he highlighted the financial system as a “big concern.”
Read the whole article, Emerging markets turnaround underway: Young, on the website of FTAdviser.
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