ASSET management executives worldwide were much more optimistic about economic growth than they were at the beginning of last year, and they expect smaller emerging Asian markets to lead the way, rather than such areas as Brazil, Russia, India and China, a new study found.
"Optimism abounds on prospects for emerging and resource-rich economies with the highest hopes focused on the non-BRIC frontier markets," concluded the survey commissioned by RBC Capital Markets.
Growth over the next year is likely to come from such smaller Asian economies as Hong Kong, Singapore and South Korea, according to the study conducted in January by the Economist Intelligence Unit.
The respondents were 108 senior executives from asset managers, hedge funds and private-equity firms, part of a larger study of 461 senior corporate and finance executives worldwide.
"It is quite surprising that asset managers see smaller Asian economies surpassing China and India in terms of growth prospects," said Marc Harris, co-head of global research at RBC Capital Markets.
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