Burgess, CIO EMEA and global head of equities, said: “Given valuations and fundamentals we have taken a look at emerging markets and Japan (where we have a meaningful overweight position) in recent weeks, but have opted not to change our positioning.
“Broadly, macroeconomic and policy backdrops are improving across EM, with improving current account deficits, firmer economic growth and a positive domestic consumption trend, particularly in India and Indonesia.
“Unlike in Europe and the US, domestic politics in emerging market countries appear to be pulling away from populism.”
However, China remains concern for Burgess who expects growth to slow significantly and exports unlikely to prop it up anymore.
