UK money managers feel emerging market equities are the most undervalued major asset class, after the US Federal Reserve assuaged fears by unexpectedly delaying its plans to “taper” its monetary stimulus programme.
More than half of all investment managers polled by the CFA Society of the UK said that the stock markets of developing countries were either somewhat or very undervalued, up from 44 per cent last quarter and the most since the survey began in early 2012.
Institutional investors such as pension funds and endowments have also become more positive, depositing over $6bn net into EM mutual equity funds since September 6, according to EPFR Global, a data provider.
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