The Fed driven ‘tourist flows’ into emerging markets end up in India as place holders in well- known companies where the underperformance risk relative to the Indian benchmarks is quite modest, said Krishna Memani, CIO, OFI Global Asset Management in an interview with ETNOW. Edited excerpts: What has changed for the emerging markets in last few weeks? Why is the case for emerging markets looking so strong? What has changed is the Fed’s positioning with respect to the US economy. In 2017 and 2018, the Fed was tightening rates and when that happens, typically flows reverse out of emerging markets and back into the US. Coming into 2019, expectations changed and as a result, people have been buyers of emerging markets and India clearly is benefiting from those general flows going out of the developed markets into emerging markets. How serious is the global slowdown because typically if Fed is making a case that interest rate should go down, that also means the US economy will slowdown. So, should one get excited about the flow picture? Well we are talking about slowing growth from relatively high levels and lack of inflation. Our expectation is that by the second half of… Read full this story
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Hope Modi govt has learnt its lessons and focuses on growth if re-elected: Krishna Memani have 312 words, post on economictimes.indiatimes.com at April 5, 2019. This is cached page on Drudgereport. If you want remove this page, please contact us.