Look to Emerging Europe for Returns: Portfolio Manager
Asia and Latin America may be getting all the attention, but Vladimir Milev, a portfolio manager at Metzler/Payden, says the best emerging market opportunities are in the Central and Eastern European markets.
“If you’re looking for fairly cheap exposure to nice, global beta, emerging Europe is the way to go,” Milev told CNBC Wednesday.
Specifically, he likes Poland and Russia.
“Poland was the only country to actually avoid a recession in 2009 of the European Union members,” he added. “…From the equity market perspective, you have interesting opportunities in the financial area.”
As for Russia, he says its market will stay strong as long as energy prices remain high.
“If you look at the capitalization of the market, about 80 percent of that will be energy, so whatever happens to commodities is probably what’s going to happen to the stock market.”