At a time when financial markets in advanced economies are struggling for — or barely managing — gains, investors can look toward emerging markets for stability, BlackRock's Amer Bisat said Wednesday.
"Clearly, there's enormous amounts of uncertainty in the developed world," Bisat, the firm's emerging markets portfolio manager for fixed income, told CNBC's "Squawk on the Street," adding that some of the uncertainty comes from the U.S. elections and the United Kingdom's decision to leave the European Union.
"However, in my own sandbox, which is emerging markets, there is an oasis of stability," he said, noting that the sharp economic downturn in China has stabilized for now.
Last month, China's manufacturing Purchasing Managers' Index came in at 50, above a Reuters estimate of 49. A reading of more than 50 indicates expansion, while a reading below 50 shows contraction.
Meanwhile, Brazil's Bovespa and Argentina's Merval indexes are up 18 percent and 25 percent for the year, respectively.