Ian Staley, chief investment officer of Global Fixed Income International at Morgan Asset Management, said that investors are under-allocated to emerging markets, and that emerging market valuations are attractive, especially compared to some developed markets. “I don't think everyone is holding enough positions in emerging markets, and our equities team feels the same,” he said at a symposium at the Fixed Income Leaders Summit held in Antibes on Wednesday. Stirley said that Morgan Asset Management's analysis of capital flows in local currency assets in emerging markets shows that although related allocations have rebounded slightly, they are still below pre-pandemic levels. He added that “the fundamental situation in emerging markets is indeed improving” and that the fixed income sector “does not have the same high valuation position as some developed markets”; “Among our various portfolios, emerging markets are one of our most optimistic allocation directions.”

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