Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:LATimes Profiles a Thornburg Guru Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 8, 2013

LATimes Profiles a Thornburg Guru

News summary by MFWire's editors

With the MSCI emerging markets index down 14 percent this year, a developing world fund has succeeded. Thornburg's [profile] Developing World Fund has been up 3 percent this year and beat 96 percent of its peers, despite the China slowdown and political turmoil in Brazil, reported The Los Angeles Times' Stuart Pfeifer. Morningstar gave the fund a five star rating.

Pfeifer interviewed the PM, Lewis Kaufman, who used to work for Morgan Stanley and Citigroup.

Kaufman said he decides what is an emerging market stock, not on where the company is based, but who the company sells to, which is why 12 percent of its assets are invested in Remy Cointreau, Prada, Colgate-Palmolive.
We see opportunities in companies that are oriented or levered to domestic demand trends in the emerging markets. Prada is 65%, 70% in the emerging markets. People are going to brush their teeth. They're going to migrate to the global brands like Colgate-Palmolive.
Kaufman sees a lot of long term growth in Southeast Asia as well:
Southeast Asia is only 10% of the MSCI, but our fund is 21% in those countries. Indonesia, Philippines and Thailand are the three big ones. I think that is one of the few regions in the world with the potential to surprise from a GDP perspective in the next few years.
To read more, click here

Edited by: Casey Quinlan


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use