Morgan Stanley IM Says the Decade of Emerging Markets Has Begun
- EM and international stocks seen beating US and mega-cap tech
- Fund manager says India is one of top trades at Morgan Stanley
Workers walk in the atrium of the National Stock Exchange of India Ltd. (NSE) building in Mumbai, India, on Tuesday, Dec. 20, 2022.
Photographer: Atul Loke/BloombergThis article is for subscribers only.
Stocks in emerging markets are set to be this decade’s winners, Morgan Stanley Investment Management said, adding to a chorus of investors who are souring on the US in favor of other regions.
The fund manager is taking money out of US equities to add to its developing markets exposure, according to Jitania Kandhari, deputy chief investment officer and head of macroeconomic research for emerging markets at Morgan Stanley IM. Developing equities have attractive valuations, and economies like India are set for better growth than the US, she said.