Amundi’s long-serving CIO, Ray Jovanovich, is retiring, and HSBC’s Ayaz Ebrahim is joining to run Asia equities.
They're bullish on emerging markets, predict the renminbi will be allowed to strengthen and suggest the best exposure to China is through investments outside the country, among other things.
The well-regarded fund manager will work with Richard Wong to boost HalbisÆs China equities capabilities.
Ebrahim says the biggest challenge in investing in Asia is dealing with technical distortions in the market caused by high liquidity, short-covering and volatility.
The market is over-crowded with investors and valuations are stretched.
Investment Outlook Series: Ayaz Ebrahim, CEO for Asia-Pacific at Halbis, says there is no substitute for quality investing, even if this may result in underperformance in rising markets, where people often end up chasing momentum.