Fund calls for look at US stocks
By Zhang Fengming |
March 25, 2010, Thursday
|
Print Edition
Print Edition
INVESTORS betting on bigger returns should look at the United States stock market as the world's biggest economy is expected to post a better-than-expected growth, Legg Mason Capital Management said yesterday.
The current consensus for US economic growth for 2010 is likely too low, said Mary Chris Gay, senior vice president and portfolio manager at the US-based fund management company.
"Economic data implied that the growth is above the trend this year," Gay said yesterday in Shanghai.
She said investors should pay attention to undervalued mega-caps in the technology, financial and health care sectors as they have opportunities for huge growth potential this year.
The Federal Reserve's accommodative monetary policy, with a near-zero interest rate, will help back the growth of the US equities market, Gay said.
She also said the US may see much improved employment figures in the next couple of months. The US unemployment rate was 9.7 percent in February.
Charles L. Evans, president of the Federal Reserve Bank of Chicago, said he expects a US economic growth of 3 to 3.5 percent this year.
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