JPMorgan Fund Manager Says Always Buy the Dip in Emerging-Markets
- Eidelman says there’s opportunity in political volatility
- Likes Brazilian fintech, Indian banks and Chinese insurers
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The JPMorgan emerging-market money manager who outperformed 95% of peers since 2014 follows a three-word mantra: Buy the dip. As the dollar weakens and global central banks turn dovish, that means Leon Eidelman is adding Indian lenders, Chinese insurance companies and Latin American financial technology firms.
“During 95% of politically induced noise, there tend to be good buying opportunities,” Eidelman, whose $6.2 billion JPMorgan Emerging Markets Equity Fund is among the $21 billion he helps oversee, said in an interview. “If you know exactly what it is that is worth owning, then you can act in a direction which is contrary to what the market it doing.”