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Cigarettes & diapers in EM to drive equity returns: Vontobel

Wednesday, March 20, 2013 - 02:28

Mar. 20 - Bet on cigarettes, cosmetics and diapers, essentially stocks backed by the strong emerging market consumption story, says Vontobel, winner of the Lipper awards,‘Equity Global’ category.

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Any exaggeration. I'm representing Google temple fund global equity and 800 million dollar equivalent to. We don't have specific stocks that that are performance we -- well in the IT sector apple with a stop in particular that we held crippled well. A crossover between now IT and consumers' discretionary Amazon was -- another company that did well for us. And then and I'm rob bank holdings that your performance HTC bank in India. But also cement positions we initiated in the second quarter -- last year in the UBS in and Citigroup. And JPMorgan Chase also helped drive for -- but. Soft focus in twenty vaccine is still overweight too. The entities to -- -- -- take -- that we have -- small little waits to to sit through the banks. But our focus is on a combination of -- emerging markets consumer. Emerging markets banks and very strong global businesses with high degree high barriers to entry and I'm very strong market positions. We're looking very strong businesses businesses with a rather as we -- to call -- it's it's it's a high degree of all of of autonomy. That the direction that is -- high degree of control and direction that business pricing power. Strong cash play much and predictability. We are very reluctant to make market cools and we and it's had quite conservative quite -- from that perspective we -- off tomorrow. From from from and -- and operates. Intend to some of the -- of the the positions that we've taken. And we've taken perhaps. Known consensus view in China we relatively negative on the on on on the on the Chinese economy particular banking the real estate sector we think that that could lead to a slowdown in the Chinese market. And also to to -- and consumption so we've possible for an away from those days they social -- We think that we think has of the -- opportunities and where we've -- -- but it is too with the emerging markets consumer we believe that the the consumption particularly at the lower end of the scale. We're talking about cigarettes and talking about soft drinks were talking about diapers were talking about some cuts cosmetics. That's a good thing we we we really think about the nineteen markets consumption story is very strong and we'll we'll continue.

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Cigarettes & diapers in EM to drive equity returns: Vontobel

Wednesday, March 20, 2013 - 02:28