SINGAPORE — As uncertainty clouds equity markets ahead of the upcoming U.S. presidential election, one asset management firm is placing its bets on Asia-Pacific.
“For the most part, yes, we’re quite happy to have risk positions on in Asia-Pacific,” John Vail, chief global strategist at Nikko Asset Management, told CNBC’s “Street Signs Asia” on Tuesday. He said his firm expects “all of Asia-Pacific to outperform in the six months ahead period.”
“We’re not afraid, especially for long-term investors, to have to put positions on now in Asia-Pacific,” Vail said.
For those who are looking to time the markets, the strategist said there will probably be dips — though the timing is “extremely difficult” to determine.
For its part, Vail said Nikko Asset Management’s global investment committee forecasts a win for former Vice President Joe Biden while Congress may be split between Democrats and Republicans. This would result in a “moderate