GLG calls emerging market valuation shift

Valuing emerging markets relative to G10 counterparts has fundamentally and permanently changed according to GLG Partners.

Karim Abdel-Motaal, managing director of GLG's emerging markets investments says it is no longer valid to begin a discussion about investing in emerging markets by calculating the discount to developed markets investors require in order to buy them He says: "Never before in our careers have we been in a situation where every taboo, previously attributed to emerging markets, has been shattered by G10 economies." Ben Funnell, GLG asset manager, singles out Greece as a country whose sovereign debt insurance has blown out 33-fold over two years as its economy deteriorated Abdel-Motaal ...