The manager of the Pictet Asian Equities ex Japan fund has reduced its underweight to Korea as corporate governance improves, but remains underweight India on the basis it is expensive.
Kiran Nandra said that the fund bought into a Korean conglomerate with a large retail brokerage operation in February this year, meaning the portfolio now has a 10% allocation to the region. "The underweight is the smallest it has been for quite some time and one of the names that reduced that underweight was this Korean retail brokerage linked company," she said. Taiwan's devastating drought shows the urgency of climate risk management Without wanting to characterise Korean companies, Nandra added that the reason for the underweight is because it has "been a struggle to see what s...
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