HSBC asset management has launched a new country fund. No more BRICs, now we have CIVETS which stands for Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa. These are the new developing countries. Not as big as the BRICs, but they may offer better return opportunities. Columbia is now investment grade. Indonesia has a very large natural resource base and a large population. Vietnam is increasingly becoming a low cost manufacturer of footwear and apparel. Egypt is a very populous and young country while Turkey seems to be setting its own pace away from the EU. South Africa still is a gateway to the rest of Africa.
It is hard to follow these labels, but CIVETS could be the next emerging growth opportunity.
No comments:
Post a Comment