MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Global Trends
economic policies in countries such as South Africa and the drying up of capital flow to
emerging markets.
It warns that countries that don’t have their house in order are at risk in the current
environment. Its preferred focus in emerging markets is India, Brazil, Russia and
Turkey.
Real Estate
ING IM is overweight here as the search from investors for a perceived ‘safe’ yield
increases. The US housing market is also recovering and the dividend from this asset
class remains attractive in the developed market. The investment manager favours
‘riskier’ real estate assets and is overweight in the Eurozone.
Commodities
Here, ING IM is underweight. It points to a weak but improving manufacturing sector,
and as result of quantitative easing, it is overweight in Industrial Metals. It is no longer
overweight in Precious Metals. It also believes that agricultural prices may peak soon.
INVESTOR ASSET ALLOCATION FOR 2013
ING IM’s survey of European institutional investors reveals that more investors plan to
decrease their exposure to equities next year rather than increase, (26% versus 22%),
and that investors intend to increase their overall exposure to real estate and
commodities. They plan to reduce their exposure to cash and equities.
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