Dubai index poised for turnaround as Expo 2020 nears:
In the medium term, Dubai Financial Market (DFM) general index look poised for a rebound on the back of strong economic fundamentals, according to Charles-Henry Monchau, managing director, chief investment officer and head of Investments at Al Mal Capital.
The index has been one of the worst-performing regional equities over the last four years, losing about 50 per cent of its value since late 2014. Monchau spoke to Gulf News in an interview that touched on local equities, including his top five picks in the region.
“[The] stock market is anticipating a turnaround, and we would see stocks moving ahead of the recovery. There is a price for everything and now we are getting to levels where valuations are very attractive,” Monchau said. “As global emerging market managers allocate capital among countries, they [begin] to find value [once more] in Dubai and the UAE. We like the UAE markets and we feel that Dubai has more upside potential than Abu Dhabi.”
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