LATEST HEADLINES
Oldendorff inks Post-Panamax duo
Germany's Oldendorff Carriers ordered Post-Panamax at Jiangsu Eastern Heavy Industry. The owner confirmed its order of a 97,000 deadweight eco Post-Panamax bulk carrier at Jiangsu Eastern Heavy...
Amundi to launch seafood fund in Japan
- Hits: 116
Fund manager Amundi Japan is looking at putting together a portfolio of marine stocks on the back of increasing seafood consumption in emerging market. It would be the world’s first fishing and aquaculture fund, provided at least US$500 million can be raised with investors.
"There's a reasonably good correlation between per capita GDP growth and consumption of fish in emerging markets, which are growing fast with huge populations, so we thought this could be an interesting investment story," said Amundi's chief investment officer, Masato Degawa, in The Australian.
Increased consumption, combined with a drop in equity prices in developed markets, where most of the stocks will be listed, lead to the creation of the fund. Amundi’s decision to launch the fund in Japan is significant because Japanese retail investors tend to latch on to investment themes.
"Our strategists and our global chief investment officer have been saying the developing market has been booming but the developed market has been left completely unnoticed, and therefore the valuation of those stocks listed on big markets like New York and Tokyo have become very cheap," he said.
The fund will be sold through securities giant Nomura, and Mr Degawa said investors had demonstrated a "voracious" appetite for themed funds.
Source: The Australian
