mass-affluence-a-boost-say-baring-fund-managers

Mass affluence a boost, say Baring fund managers

Fund managers view emerging middle class as focus for Chinese and European earnings growth as US influence wanes.

By Samuel Riding

October 10, 2006

China and European equity investors at Baring Asset Management remain resolutely bullish on their respective markets despite the inevitability of a slowdown in the US economy. Lilian Co, manager of the Baring Hong Kong China fund, and James Buckley, manager of the companyÆs European Growth Trust and Europa funds, each cited the same reason for such confidence û burgeoning mass-affluence in emerging markets.

For Co, this is a general sign that China is becoming more reliant on its own economy to support its domestic companies, while for Buckley the development of markets such as Eastern Europe but also including China means Europe need no longer rely on US consumption to drive its economic growth.

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