“Anything that affects growth there can weigh on sentiment in emerging markets.” As a result, he is not too exposed to countries levered to China’s growth.
Meanwhile, Whitechurch managing director Gavin Haynes warns: “We expect to see more volatility in emerging markets with tapering, especially if the recovery happens too quickly and the Fed has to tighten monetary policy sooner.”
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Joanne Ellul is a freelance journalist
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