Discounts set to narrow

By Catherine Lafferty Discounts on emerging market funds are likely to narrow in 2001 as investors turn more positive on the region, according to Merrill Lynch. While investor sentiment to emerging markets is currently weak, there is a slowing global economy and continued volatility in the markets, much of this has been priced in already, according to Charles Cade, investment trust analyst at Merrill Lynch. Cade said increasingly fund managers are turning more positive on emerging markets with relative NAV performance looking good in recent months. He said: "If markets do rally, we ...