{"id":380136,"date":"2010-03-02T09:25:00","date_gmt":"2010-03-02T14:25:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:401917"},"modified":"2010-03-02T09:25:00","modified_gmt":"2010-03-02T14:25:00","slug":"china-over-brazil-and-russia-over-india","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/380136","title":{"rendered":"China over Brazil and Russia over India"},"content":{"rendered":"<p>Current valuations of the two most heavily-weighted BRIC nations favour China over Brazil, says Patrick Gautier, portfolio manager of the HSBC BRIC Equity Fund. which returned 59% year-over-year in 2009. &nbsp; <\/p>\n<p>&quot;Short term, there<br \/>\nis a discrepancy between the two markets,&quot; said Mr. Gautier during a recent phone interview. &quot;We find<br \/>\nthe Brazilian market too expensive. In 2009, it grew by 120% in U.S.<br \/>\ndollar terms, compared to the Chinese market that grew only 70%.&quot;  <\/p>\n<p>39% of Mr. Gautier&#39;s current fund holdings are in China compared with a 33% weighting in Brazil. By comparison, the benchmark MSCI BRIC index is weighted 37% to China and 35% to Brazil.  <\/p>\n<p>He is also slightly overweight Russia, with a 14% stake versus 13% for the benchmark, and slightly underweight India, with a stake of 14% versus 15%. <\/p>\n<p>The Russian market, which was trading at 8x earnings at the end of 2009 versus 14x for the other three BRIC nations, is even cheaper than it normally is on a relative basis, Mr. Gautier said.<\/p>\n<p>&quot;The Russian market is riskier<br \/>\nthan other markets, but because it is more volatile, opportunities may<br \/>\noccur more often over the short term,&quot; he said.&nbsp; <\/p>\n<p>&quot;Buying and selling Russian<br \/>\nequities may allow for investors to get more alpha over the long term.&quot;<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=401917\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Current valuations of the two most heavily-weighted BRIC nations favour China over Brazil, says Patrick Gautier, portfolio manager of the HSBC BRIC Equity Fund. which returned 59% year-over-year in 2009. &nbsp; &quot;Short term, there is a discrepancy between the two markets,&quot; said Mr. Gautier during a recent phone interview. &quot;We find the Brazilian market too [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-380136","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/380136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=380136"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/380136\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=380136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=380136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=380136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}