Amundi’s Cash-Rich Gulf Clients Look Beyond U.S. to China, India

Cash-rich Persian Gulf clients of Amundi are looking beyond the U.S. to China and India as they seek portfolio diversification in Asia.

(Bloomberg) — Europe’s largest asset manager said its wealthy clients in the Persian Gulf are looking beyond U.S. markets and instead focusing more on equities in developing nations like China and India.

Institutional investors in the region are looking “to raise portfolio diversification and really gain exposure to these country-specific stories and take advantage of internal demand growth,” Nesreen Srouji, Amundi SA’s chief executive officer in the Middle East, said Monday in an interview with Bloomberg Television.