EMERGING-MARKET valuations are looking attractive, but it is probably not time to pile in in a big way.
Kevin Gardiner, Barclays (Europe) chief investment officer, believes that poor sentiment and fickle capital may continue to rein in emerging-market returns in the near term. "Tactical alpha", he says, is likely to continue to come from Europe and the United States.
JP Morgan Asset Management Asia Pacific chief executive Jed Laskowitz agrees that investors should be underweight emerging markets, and overweight developed markets. But he is concerned that fear may cause retail investors to over-react. The emerging markets, he says, are starting to look oversold.
"I think clients may be reacting a...
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