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Rating:Forbes Takes a World Tour with Manning & Napier Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 26, 2012

Forbes Takes a World Tour with Manning & Napier

News summary by MFWire's editors

China's still up; India, Russia, and Brazil are down. So argues Manning & Napier [profile] head of global investment strategy Marc Tommasi, manager of over $40 billion in client assets, who gave Forbes the lowdown on M&N's picks and pans in the global investing landscape.

Tommasi discuses Manning & Napier's overall investing strategy -- avoid value traps, look at individual equities rather than sectors -- and admits that the emerging markets "are not playing out the way we expected," although "the secular growth story for emerging markets is still a lot healthier than developed markets."

Tommasi bucks convention when he says that China still has room to grow -- though stay away from Cinese banking and real estate. He says Manning & Napier has been reducing its position on Brazil. The firm is "constructive" on Mexico, though "it's hard to justify a buy right now."

India and Russia, sad to say, are too corrupt and mismanaged for Tommasi to recommend buying, but he likes some individual companies.

To recap, Tomassi's overview of world economies:

  • Big things coming: Poland, Czech Republic, Korea, Indonesia
  • Wary yet hopeful: China, Mexico
  • Get your act together: Russia, India, Brazil, U.S., U.K., Europe, Japan 

    Edited by: Chris Cumming

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