Hong Kong fund manager Rob Mumford bets big on emerging markets' stocks

Optimism around developing-market equities got a boost after the International Monetary Fund said last week

Emerging-market securities have made Rob Mumford so bullish that he’s invested more than half of his personal wealth in the assets.

The Hong Kong-based fund manager at GAM Investments says the MSCI Emerging Markets Index could double in value by 2023 as economic growth in the developing world improves and the Federal Reserve stays dovish. China, India and Brazil will contribute most to the gains, said Mumford, who will take charge of the firm’s China and Asian equity funds in the coming months.
 

“We see compound returns in EM in the double-digit range” in a base case where growth is