Fund managers across the world, controlling billions of dollars in assets across the globe, are willing to invest in Nigeria and other emerging markets across the world.
According to Reuters, Michel Del Buono, head of portfolio strategy at Makena Capital Management LLC, who oversees $18 billion across asset classes, has a bullish outlook on emerging markets.
“If you’re exposed in the right way and you have a long-term perspective you should keep a significant weighting to emerging markets,” Del Buono said.
Del Buono said he favors investments in things like healthcare, retail and for-profit education in places like Nigeria, Indonesia and the United Arab Emirates.
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BlackRock, the world’s largest asset manager, is also expecting to reap solid gains from all emerging market asset classes, especially bonds, Jeff Rosenberg, the firm’s chief fixed income strategist, said at the company’s recent global outlook summit.
Other global fund managers also see a rebound on the horizon.
Ricardo Adrogué, head of emerging markets debt at Baring Asset Management Ltd, said analysts, including ratings agencies, are confusing structural versus cyclical problems when evaluating the sector.
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“Our assessment of emerging markets is actually strengthening at the time that developed market institutional framework is weakening,” he said.
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