It’s been a good year so far to be an emerging market equities investor, to say the least. The MSCI Emerging Markets Index surged 11 per cent last month – its strongest January in 11 years, rebounding from a 21 per cent tumble last year – and is currently at its highest level since August.
And it seems that fund managers are counting on more EM joy still. According to a monthly survey by Bank of America Merrill Lynch – considered a barometer of sentiment in financial markets – there has been a “stunning rise in asset allocation to EMs” in February. Even after last month’s stellar performance, the jump towards EMs is the second biggest in the past 12 years.
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