Jan. 22 - Despite a tough time for Aberdeen Asset Management in emerging economies, they make a good contrarian call for 2014, says CIO Anne Richards.
Well we talked a lot about emerging markets or this morning emerging market was. Proved costly for some asset managers lost yes Iowa is 2014 the time to play it safe to double down on emerging markets or even. The push out along the risk -- to frontier markets joining me. And Richard CIO. Aberdeen Asset Management thanks so much for coming by 7 in the morning and I'm -- a muscle you we were in Oxford debates in Europe when -- -- wanna talk about it and he's got a -- -- All right up about a -- it was it was very tough feat it's been very tough view that but you think the situation is gonna recover. -- in that. What's the time. I think if you -- -- -- -- market -- for -- to develop markets. People think believe beyond four missiles started with a take attention last year that's not actually treat. The under performance of emerging markets missed them markets goes back quickly at least four years. And if you look at the progression of earnings are suspect and performance and a stick his movie quite stretched so given that the companies that continue to perform really well. And for the most part in emerging markets space we think actually it's quite good considering called power -- -- okay beauty -- -- really -- -- staying party apps that AG and you have to degree to screen at the politics and focus on. Well the companies are teeing on the Bryant and the company's it'd -- working on these markets for very long time. And our equity market for the brunt. I'm. Most -- debt proxy card funded didn't message all -- just stick with those now would you go back to. Think again it's not for the faint talked to unnecessarily because of so many elections coming emerging markets face that you will inevitably see volatility to this here. But I think for choices say about bulletin to the equity side is actually an opportunity it's not a threat and you can use that. To get into some of these companies at lower levels -- an -- was needed -- if his -- the two sometimes. -- About what -- -- -- voiced that to me. For other reasons US. What what are we gonna -- anybody doing him justice. Well I think this year -- we've done a fairly major transaction which is poised to complete hopefully in the next month or 28. And which is thought he could UK based transaction which is an investment and -- like bank of students and the guys. Trust the US is a huge market and we are relatively under represented that so I think. For the time being our focus is very much near can excite and trying to grow our business that can keep their this is such a huge market and into smaller acquisition last year for a high yield. About an investment grade to high yield to it owns that company couldn T you. And I think if you could see the -- told we might consider doing it but ten in -- process really primarily African growth in the short term. Which amounts discounted too much good news we we we get to see a real pull back in the -- I don't think I don't think this short of a really big surprise probably not. But some you know clearly they've gone very far very fast and so -- a bit of a bit of a studying in the short term seems slightly different question imaging now depends. It was about your dreams that he sent us -- you would instantly there when you look at what's happening now in Europe and these thoughts or comments he's just just you really think that tree is over. I think Europe faces some very major problems on the demographics I age I think -- shouldn't you as an African -- very recent detentions and it was in Europe. But I have to say the periphery is getting a little bit more traction perhaps some Portugal be an example than people thought it would. And France and Italy in the middle are actually probably the biggest challenges for your kindness is a long way to go here this entity receiving -- -- -- -- and important and thank you very much indeed -- Aberdeen Asset Management.