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BlackRock’s Vecht Says Oil Rout Leaves Portfolios Outdated

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The rapid slide in oil prices has left many money managers overseeing outdated portfolios and missing emerging opportunities from Turkey to India and Indonesia, according to BlackRock Inc.’s Sam Vecht.

Even as crude’s 38 percent plunge in less than six months eases the energy costs of importing countries and leaves scope for more consumer spending, investors haven’t been quick enough to churn their holdings, said Vecht, a London-based emerging-markets money manager who oversees $2.7 billion. The lag is pronounced in Europe where managers have yet to appreciate the boost from cheaper fuel on segments such as industrial-goods makers and consumer-product companies, he said.