Will use weakness as an opportunity to invest in market, says Aberdeen’s Hugh Young

Aberdeen Standard Investments will use market weakness as an opportunity to invest, said Hugh Young, managing director -Asia Pacific Region, on Monday, adding that geopolitical situations will cause uncertainties and volatility in global markets.

In an interview to CNBC-TV18, Young said, “We use market weakness as an opportunity and for us, it throws up some far better value. The other caveat is, India as an individual market has been amongst relatively more expensive market and in the context of emerging markets globally and Asia in particular, India has fared very well.”

“So far, we are encouraged by the earnings. It depends on what happens on the inflation front. Yes, we have seen inflation pick-up. It depends on what happens on the interest rate front and on confidence overall, but we are still fairly comfortable with the earnings outlook for the next year from India. The issue then remains the overall valuation of the Indian market, which has never been cheap for people like us; we like cheap markets but India has been a fairly well-rated market,” he said.