Top Morgan Stanley fund manager recommends PH
07/24/2013
MANILA, Philippines - A well-known fund manager said the Philippines is one of the emerging markets to bet on, as the end of US stimulus raises social pressures in others.
According to Bloomberg, Ruchir Sharma, the Morgan Stanley fund manager who wrote the book "Breakout Nations", recommended investing more in the Philippines and Mexico than recommended by benchmarks, and less in countries like Brazil, Russia and China.
Bloomberg reported that many emerging markets will suffer more than developing countries as the Fed tightens up because they need continuous growth to satisfy citizens who have just emerged from poverty or trigger protests similar to those in Brazil and Turkey.
"There are positive stories as well. The selloff has been indiscriminate, but once the dust settles, the attention will turn back," said Sharma.
But Sharma said there's opportunity in countries trying to fix their finances, instead of giving in to populist pressure. - ANC
According to Bloomberg, Ruchir Sharma, the Morgan Stanley fund manager who wrote the book "Breakout Nations", recommended investing more in the Philippines and Mexico than recommended by benchmarks, and less in countries like Brazil, Russia and China.
Bloomberg reported that many emerging markets will suffer more than developing countries as the Fed tightens up because they need continuous growth to satisfy citizens who have just emerged from poverty or trigger protests similar to those in Brazil and Turkey.
"There are positive stories as well. The selloff has been indiscriminate, but once the dust settles, the attention will turn back," said Sharma.
But Sharma said there's opportunity in countries trying to fix their finances, instead of giving in to populist pressure. - ANC
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