Old Mutual Global Emerging Markets is looking at investment opportunities in Brazil and Mexico rather than SA, which has become one of the least attractive emerging markets. Equities in these markets are offering more value than South African stocks at the moment, due to the slow pace of the country’s economic recovery, according to Old Mutual Global Emerging Markets joint fund manager Feroz Basa. Recent volatility centred on US-China trade conflict has hit emerging markets particularly hard, when compared with previous exchanges of rhetoric and tariffs. Analysts maintain the market is now pricing in reduced economic growth as a result, warning the rand seemed particularly vulnerable. "I am getting world-class valuations in Brazil and in Mexico — good, high-quality management teams that are able to manage through cycles, and which have strong balance sheets that can manage through tough times," said Basa

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