Pictet Favors India, Brazil and Mexico as Fed Unleashes Dollars
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Pictet Asset Management Ltd. is betting on gains in the Indian rupee, Brazilian real and Mexican peso as bond buying by the Federal Reserve prompts investors to chase higher returns in emerging markets.
Simon Lue-Fong, global head of emerging-market debt at Pictet Asset, part of Switzerland’s largest privately held bank for the wealthy, said he had “gone long” on the three currencies in a Sept. 18 interview in Singapore. The Dollar Index, which tracks the greenback against six major trading partners, has lost 0.7 percent since Sept. 12, a day before the Federal Reserve announced open-ended purchases of $40 billion of mortgage debt per month.