Kuala Lumpur: Positive developments in Asia have hinted that the region is on the road to economic recovery. These developments could also signal to investors that the time is ripe to consider opportunities available in the region.
Speaking at a media briefing on Investing Asia today, Sulaiman Mohd Tahir, Head of Consumer Sales & Distribution, CIMB Bank Berhad in his welcome address said: “Asian economies are well poised to recovery with China leading the way. Taking into account all the positive economic indicators from around the world and Asia, we expect the level of investors’ risk averseness to moderate and confidence to return significantly. This is also the best time for investors to consider the prospects of shifting into equities. At CIMB Bank, we are prepared to ride the next growth wave and ensure our investors’ portfolios are well positioned to benefit from a booming Asia.”
Investors were encouraged to take advantage of these Asian opportunities via three Asian equity funds managed by CIMB-Principal Asset Management Berhad (“CIMB-Principal”); two being conventional funds while the other is a Shariah-compliant fund.
Raymond Tang, Chief Investment Officer of CIMB-Principal stated that as at end July 2009 their three Asian funds - CIMB Islamic Asia Pacific Equity Fund, CIMB-Principal Emerging Asia Equity Fund and CIMB-Principal Asia Infrastructure Equity Fund have recorded a YTD cumulative performance of 50.68%, 49.46% and 36.83% respectively.
“The market moves ahead of the real economy by six to nine months. The recent positive market performance has moved in anticipation of the first round of recovery. From here we foresee a positive uptrend that investors can still partake of in anticipation of the second leg of the recovery,” he concluded.