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.
Sanjiv Duggal, who manages the $6 billion HSBC Indian equity fund, is reducing his cash position and shifting his bias from defensive to growth plays.
Investment Outlook Series: Francis Chung, Asia product specialist at Halbis, says North Asian economies will likely face fewer inflationary and growth pressures.
Rudolf Apenbrink, the new Asia-Pacific CEO, says the firm is working on initiatives from an IT overhaul to new offices, all part of the firmÆs bid to be a leading emerging-markets fund manager.
This is the last in a series of Q&As on Asian fund managersÆ investment outlook for 2008.
As investors begin to take profits, fund managers argue that Asian equities will continue to outperform thanks to economic growth.
HSBC Investments is transferring its Germany CEO to Hong Kong.