Fund houses' views from Fundsupermart fair 2014
Kenanga
US - debt ceiling no longer critical, support form midterm elections
China - potential financial risks (default, shadow banking), slowdown in growth
Japan - depend on further structural reforms
Malaysia- growth by export recovery, risk rising inflation (weaker domestic consumption), sovereign downgrade risks diminished, valuations not cheap, small caps historically high PE but potential growth, themes: OG, export recovery plays, construction, property (2H), yield plays with earnings support (not reits)
Synchronized global growth, still favor developed markets in 1H
Hwang IM - o&G
RHB OSK - 1H developed markets, 2H emerging markets
Eastspring - Malaysia themes - stock pick mid-cap growth equities; O&G, ETP, construction, banks, subsidy rationalization e.g. TNB, VMY, GST service providers
Concerns - rising costs, geopolitical, policy missteps, Europe, China
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