A Barron’s article recently quoted Heidi Heikenfeld, the co-manager of just-launched Oppenheimer Emerging Markets Innovators Fund (EMIAX), which invests in small cap and mid cap companies in emerging and frontier markets, as saying that indexes often get emerging markets wrong. Heikenfeld was quoted as saying:
“The indices are underexposed to the next wave of growth in emerging markets. Over the next decade, investors are going to make more money in health care and technologies than in utilities and telecom.”
She likes education and microfinance in Latin America, drug development in Korea, components technology in Taiwan and insurance worldwide. She also sees the entrepreneurial spirit in India, though she’s waiting for the Indian stock market to correct.
To read the whole article, The Bull Case for Small-Caps, go to the website of Barron’s.
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