Hermes’ Greenberg banking on EM ‘normality’ trade
Gary Greenberg, head of emerging markets at Hermes Investment Management, believes that the end of the commodities boom will not hinder progress for emerging markets. He tells Portfolio Adviser that his view is that the outlook for emerging markets will branch out into other sectors and he is choosing to invest in consumer discretionary companies and financials as a result. Greenberg has been less positive on India having recently reduced his overweight position to 5.5 percent down from 8 percent. India’s industrial sector growth does not appear to be picking up and the banking system remains saturated with bad loans.