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Deutsche Bank Private Wealth: Emerging markets stay strong, eyed as investment opportunity
By Andrea Heisinger
New York, July 13 - There are a few countries in emerging markets for investors to watch in coming months as economies grow stronger overseas, representatives from Deutsche Bank Private Wealth Management said at a reporter's breakfast in New York on Tuesday.
All eyes are on Europe due to debt problems and austerity measures, but emerging market economies continue to be strong, said managing director Benjamin Pace.
Some are going back to the environment of 2007, before the collapse of the financial world, he said. China and India in particular are growing too fast, although China is going to be reasonably successful in slowing its overheating economy, he said.
"EM economies are one of the better investment opportunities going forward," Pace said. "The eurozone should worry about deflation."
He did caution that you "have to be careful about the bond market in some countries" because sovereign yields in developing nations have upward pressure.
Pace later talked about equities being underweight in some countries due to concerns about the euro and the yuan.
Fixed income has become attractive because it is less volatile.
Some countries to watch outside of Brazil, Russia, India and China include Korea, which Pace called the "closest to being an emerged economy."
Indonesia and Malaysia were also on the list, as well as Mexico and some central and eastern European countries like Hungary and Poland.
Deutsche Bank Private Wealth Management has been advising 4% to 8% weighting for emerging markets in clients' portfolios, he said, adding that volatility should be monitored closely.
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