Hong Kong Event

[Agenda]     [Speakers]     [Venue] 

The Rush for Emerging Market Assets
June 29, 2010 - Hong Kong

As the recovery from the global downturn takes hold, the shift of funds to emerging markets has gained tremendous momentum. Financial institutions are substantially raising their exposure to developing economies, attracted by strong growth rates and massive government stimulus plans. China, India and Brazil have been big beneficiaries, but demand for assets is strong across a range of countries, sectors and asset classes.

The cash is coming not just from traditional private sector investors and pension funds, but also from sovereign wealth funds and other government institutions diversifying away from US and European government bonds, agencies and traditional investment products. The shift is far from ephemeral, as ageing populations, large fiscal deficits and slow growth in the mature economies decimate returns.

But how viable are these emerging market assets in reality? Are investors fully aware of the risks in different economies? Are they taking account of political stability, currency flexibility, corporate governance and regulatory transparency? Are there sufficient good assets to satisfy this seemingly unstoppable urge? Where should investors look for opportunities, and what should they avoid? Will we see a new boom-and-bust cycle in emerging markets due to the over-supply of liquidity?

In the latest in a global series of strategic forums looking at the key challenges facing the financial industry and capital markets, the Financial Times and Credit Suisse gathered senior executives for an exclusive, invitation-only lunch debate in Hong Kong to explore the real opportunities and pitfalls behind this rush for emerging market assets. Martin Wolf, Chief Economics Commentator of the Financial Times, gave a keynote address.

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