NEW YORK: Some of the world’s biggest funds are switching toward emerging-market (EM) equities in a bet their central banks have less need to raise interest rates after tightening before their developed-nation peers last year.
Goldman Sachs Asset Management and BNP Paribas Asset Management are among those buying the shares on expectations the most attractive valuations in more than a decade will help halt four years of underperformance versus their United States counterparts.
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