Buy China Stocks, Says Man Who Called Emerging Market Rout
- ‘The best time to buy a market is when no one wants it’: AMP
- Naeimi likes consumer, bank, insurance, health-care stocks
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Now is the time to buy Chinese equities, according to a fund manager who last month correctly predicted the sell-off in emerging markets had further to go.
Nader Naeimi, head of dynamic markets at Sydney-based AMP Capital Investors Ltd., is looking to add Chinese shares listed on the mainland and in Hong Kong, saying they are cheap and under-owned. He manages a $1.2 billion fund and has about 5 percent of his global portfolio in Chinese equities. AMP has $138 billion of assets under management.