Emerging-market stocks are world's best bet since Feb rout: Goldman's Patel

Unlike previous market corrections, clients have been adding more money to the riskiest assets, said Sheila Patel

Emerging-market stocks are the world’s best investment after February’s rout cheapened valuations, according to Goldman Sachs Asset Management.

Unlike previous market corrections, when developing nations suffered big outflows, clients have been adding more money to the riskiest assets, said Sheila Patel, the chief executive officer of International GSAM. That’s been a sound strategy during the past month as emerging-market stocks returned 3.1 per cent, beating the 2.5 per cent gain for US peers.

“It would be hard to find a time when you’ve felt more sanguine about the way things are,” she said in an interview at Bloomberg’s headquarters in New York.