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Permal Bets on U.S. Stock, Macro Hedge Funds on Asia Inflation

Permal Asset Management Inc., a Legg Mason Inc. unit that invests clients’ money in hedge funds, plans to increase allocations to U.S. equity and global macro funds as emerging countries struggle to cap a rise in inflation.

“In emerging markets, the macro economic conditions are now negative,” Isaac Souede, New York-based chairman and chief executive officer of Permal, said in an interview. “The American equity market should do better than the emerging market equities until these countries manage to engineer soft landings.”