Oman sovereign fund eyes defensive sectors amid risks for global economy | Reuters:
Oman Investment Fund (OIF) may target defensive sectors such as healthcare and insurance in the short-term as more downside risks emerge for global economy, its chief strategy officer said.
“In the portion of our portfolio that is more exposed to public markets, we want to play defensively,” Fabio Scacciavillani, chief strategy officer of the fund, told Reuters on the sidelines of a conference in Doha. “We think we are in a late cycle stage of growth globally. We won’t see any acceleration in growth in the near future and let’s say the risks are on the downside.”
The International Monetary Fund recently cut its global economic growth forecast for 2018 and 2019, saying that the U.S-China trade war was taking a toll and emerging markets were struggling with tighter liquidity and capital outflows.
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