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UK investment funds 'looking to Korea'
UK investment companies are increasingly looking to Korea to find outstanding opportunities, an expert has claimed.
Paul Wimborne, manager of the Baring Emerging Markets Fund, has noted that this region has produced a five per cent increase since September last year, making its current holding in the country 13.8 per cent - the largest overweight holding there since 2007.
He stated that the fund continues to favour domestic-focused companies where there is strong long-term growth potential.
"There are a number of cyclical opportunities as the global recovery continues and both emerging and OECD companies look to restock inventories, such as in technology, energy and metals," he asserted.
Key sectors for UK investment companies will be technology, due to an imminent kick-start in corporate computer replacement, and materials.
Earlier this month, American International Assurance announced that it would be adding seven banks that will handle its planned $10 billion (£6.44 billion) to $20 billion Hong Kong initial public offering, Dow Jones has reported.
Posted by Brian de Selby
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