POWERED BY MOMENTUM MEDIA
(December-2004) Asian market driving growth
With the US economy still labouring under a massive burden of debt, most economists have regarded China and India as the major drivers for growth through 2004.
According to Aberdeen Asset Management’s Hugh Woung, Asia continued to perform strongly through 2004, although not as strongly as in 2003.
“But given that we have growth rates in excess of 50 per cent in 2003 that is hardly surprising,” he said.
Looking over the horizon, Woung forecasts that the problems affecting the US economy, higher interest rates and higher oil prices will impact the global economy but that Asia should continue to do comparatively well.
He said that from Aberdeen’s point of view, China continued to present a promising macro-economic picture but that India looked a better investment destination because of the maturity of business systems and the stability of its companies.
“China presents a more exciting growth story from a macro point of view but India has better companies which understand the essence of transparency,” Woung said.
His comments are consistent with the analysis presented to a recent Industry Funds Services conference, which suggested that while China was likely to continue its strong levels of economic growth, India represented a better long-term investment proposition for many companies.
AUTHOR
Mike Taylor
Recommended for you
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
