Multi-managers target Asia
Multi-managers Architas and OPM Fund Management are looking to Asia for growth on the back of the poor economic outlook for the developed world.
Architas runs six multi-manager funds, including its £39.1m Reserve fund, £86.3m Multi-Manager Cautious Income fund, £68.2m Multi-Manager Income fund, £112.8m Multi-Manager Balanced fund, £39.9m Multi-Manager Dynamic fund and £71.7m Multi-Manager Growth fund.
Caspar Rock, the chief investment officer of Architas, says: “We have been allocating to emerging markets, away from developed markets across the multi-manager funds.” (article continues below)
Rock adds that the funds have moved back to a neutral position in developed markets equities relative to emerging markets equities since the beginning of the year.
He says: “We are seeing Moody’s upgrade emerging markets such as Brazil, in contrast to the relative credit ratings of developed markets which are going down.”
Rock claims emerging markets have already learnt from past debt crises and are fiscally more prudent than the developed markets. He says: “Emerging market countries are empowered now.”
Tony Yousefian, the chief investment officer at OPM, has added 7% in non-sterling assets to the £40.6m OPM Fixed Interest fund since May, particularly in emerging market debt and Asian currency.
He says: “Our outlook for sterling is bearish against Asian currencies owing to very weak UK activity.”
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