Undervaluations, robust corporate profits, good cash flow and decent returns make emerging market assets extremely attractive, even as US valuations hit their peak, says American finance executive James Donald.
Mr Donald, managing director and head of emerging markets at Lazard Asset Management, reckons emerging markets should be a major part of the portfolio of any global investor.
"Interest rates in these markets did not go up as much as they did in the US and other developed markets," he said in an interview with The Straits Times. "In Asia, debt did not rise either. Emerging markets in Asia, Africa and Latin America trade at low valuation, deliver high profitability and report decent earnings." New York-based Lazard is one of the world's largest financial advisory and asset management firms, with assets under management (AUM) of US$207 billion (S$279 billion) globally as at Dec 31, 2023.
Its emerging markets AUM stood at US$34.8 billion globally, including US$23.4 billion for Asia-Pacific.
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