A South African fund manager, backed by US-based BlackRock, has favoured the Saudi and Indian stock markets among emerging nations, despite new US tariffs, according to a news report.
Cogence Pty plans to invest in select emerging markets over the next three to five years, Bloomberg reported, quoting Kerri-Ann Sattary, an executive and investment specialist.
Saudi Arabia’s demographic strengths, diversification strategy and resource base provide a solid foundation for long-term growth despite geopolitical tensions and potential declines in oil prices, she said.
However, Cogence remains “marginally underweight” on most other emerging markets due to Trump’s tariffs.
The company, which manages $1.2 billion of assets, is overweight in US equities driven by the push in artificial intelligence.
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