Former Blackrock Asia head has resurfaced to manage the Asia ex-Japan equities strategy for the UK hedge fund.
Andrew Swan leaves Blackrock after nine years managing the firm’s flagship Asian equity funds.
Blackrock warns on potential reversal of globalization, negative corporate sentiment and earnings pressure.
Blackrock’s Andrew Swan is bullish on old economy stocks and cautious about technology, while overweighting China, India and Indonesia in the company’s flagship Asia ex-Japan equity fund.
A transition from monetary to fiscal policy, progress on reforms in the region and low valuations make Asian equities attractive in 2017, said Andrew Swan, head of Asian equities at Blackrock in Hong Kong.
Some segments are trading at 80-100 times price-to-earnings and there are “signs of exuberance” in the domestic market, said Andrew Swan, BlackRock’s head of Asian equities.
Further easing measures are expected as current economic indicators in China have not improved, AXA Investment Managers and Schroder said recently. Separately, Schroder’s recently cautioned on the overheating in China’s market while BlackRock said it would prefer a selective investment approach following the surge in A- and H-shares. In India, managers like Franklin Templeton said they expect Indian markets to rise as […]