Thu, 10 Jan 2013
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Japanese and European equities drove returns for Oakmark International last year, but manager David Herro says it's a long-term positive to have exposure to emerging-markets consumers.
Fidelity fund manager Bill Kennedy is seeing stock-picking opportunities amid better investment prospects in Europe , improving consumption in Japan , and cheap P/Es in Korea.
As eurozone recession fears mount, Europe -based firms with a global footprint are becoming attractively valued; meanwhile bargains are harder to find in Japan and the emerging markets, says the Oakmark International manager.
After a nasty 25-year bear market, Japan is still far cheaper than both U.S. and European equities, despite its huge rally, says IVA CIO and portfolio manager Charles de Vaulx.
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