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(April-2004) Aberdeen a big fan of the Asian market
AberdeenAsset Management has embarked on a major push of its recently-launched Asian Opportunities Fund, claiming the time is right for investors to increase their allocation to Asia.
Aberdeen Asset Management Asia senior portfolio manager Devan Kaloo is arguing that Asian markets today are very different to those which preceded the 1997 Asian crisis.
He says that in such circumstances, investors need to be questioning whether allocations of between two and five per cent are still appropriate.
Kaloo suggests the long-term economic prospects for the region suggest an allocation of 10 to 15 per cent might not be unreasonable.
In a presentation in Sydney held in early April, Aberdeen pointed to Price to Earnings multiples for Asia still being close to their lowest point in 20 years, solid forecasts for growth in corporate earnings for Asian companies, and the expectation that the major Asian economies will grow on average by 6 to 7 per cent.
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