Thomson Reuters Foundation

Inform - Connect - Empower

Emerging market crisis not caused by U.S. Fed taper -Credit Suisse

Source: Reuters - Mon, 3 Feb 2014 20:14 GMT
Author: Reuters
Tweet Recommend Google + LinkedIn Email Print
Leave us a comment

SAO PAULO, Feb 3 (Reuters) - A rout in emerging market assets is not the result of the U.S. Federal Reserve's decision to scale down years of monetary stimulus, a senior Brazil-based fund manager for Credit Suisse Group AG said on Monday.

Luis Stuhlberger, who as chief investment officer of Credit Suisse Hedging Griffo, manages over 20 billion reais ($8.3 billion) in assets for Fundo Verde, said what explains the underperformance of Brazil, India, South Africa, Turkey and Indonesia in recent weeks is their lack of growth, deteriorating external and fiscal imbalances, lack of structural economic reforms and eroding policy credibility.

Stuhlberger spoke at a Credit Suisse event in São Paulo.

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus