Hedgie: Goldman wrong on emerging markets

Working inside the new 'Gold' subway line under construction in Mexico City.
Yuri Cortez | AFP | Getty Images

Goldman Sachs is wrong to tell its clients to cut their exposure to emerging markets, according to top developing world-focused hedge fund manager.

A recent report from the bank told its wealthy patrons to cut their emerging market exposure by a third. Goldman warned of "the strong possibility of significant under-performance and heightened volatility over the next five to 10 years" because of weak economic and governance structures.

(Read more: Goldman: Cut your emerging markets exposure by a third)

"The case for the structural reforms that need to be done in emerging markets—you could have made the same case 10 years ago. You would have missed a decade of outperformance," said Marko Dimitrijević, head of $2 billion Everest Capital, when asked about the Goldman report Tuesday. "If you reduce or ignore emerging markets, you're going to miss on literally hundreds of companies that are great."