"About 80% of GDP growth is expected to come from emerging markets this year, and that is not going to change from an equity market correction.”.......Slim Feriani, chief investment officer at Progressive.
While the MSCI Emerging Markets index has fallen 7%, Feriani anticipates it will provide average year-long growth of 20%. Feriani adds that the correction was much less than the falls seen last May. “The markets have corrected to about 10%, compared to the May/June bump of 25%,” he says. “It has been a healthy round of profit-taking, which has brought value back to emerging markets. “The fundamentals of these markets are still there, despite all the noise from the US.” Emerging-markets investing remains a major global economic driver, he says. |
