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$220 Billion Manager Is Bullish on Malaysia and Its ‘Lucky’ Leader

  • Pictet’s Asia CIO Gaud is adding Malaysian stocks after poll
  • French investor remains cautious on Korea shares despite talks
A woman, center, takes a selfie photograph on a bridge in front of the Petronas Twin Towers in Kuala Lumpur.

A woman, center, takes a selfie photograph on a bridge in front of the Petronas Twin Towers in Kuala Lumpur.

Photographer: Sanjit Das/Bloomberg
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Forget U.S. President Donald Trump’s threat of trade war with China, or the turmoil in Italian politics, or the on-again, off-again leadership summit between America and North Korea. None of those keep David Gaud awake at night.

To the Asia chief investment officer of the $220 billion Pictet Wealth Management, turbulence in the region’s markets is good news for old-fashioned stock pickers. Gone are the heady days of 2017 when long-only investors could buy a handful of big-name tech stocks and sit back and watch them surge. In their place is a market where value investing looks promising again, and where, despite all the noise, growth is still “very much present.”