Economics
Goldman, Aberdeen Are Picking Up Bargains From EM Selloff
- Nothing has changed the benign outlook for EM, Ashmore says
- Ruble to gain from higher oil prices, Aberdeen and Goldman say
Tourists ride on a ferry crossing the Huangpu River as the Shanghai Tower, center, and other buildings stand in the Lujiazui Financial District in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A stronger dollar, rising U.S. yields and geopolitical tensions have sent plenty of investors bolting from emerging markets. Then there’s Aberdeen Standard Investments and Goldman Sachs Asset Management.
Aberdeen Standard Investments, which oversees about $770 billion, took advantage of the recent selloff to increase its holding in the Russian ruble, South African rand and Indonesian rupiah. Goldman Sachs Group Inc.’s asset-management unit, which manages more than $1 trillion, increased its position in emerging-market debt as it viewed the recent weakness as excessive.