Stocks that still have a ‘show me' aspect are worth being patient for even with shorter-term challenges, according to Newton IM’s Rob Marshall-Lee.
Citywire A-rated Marshall- Lee, who manages the BNY Mellon Global Emerging Markets fund, said the team is happy to be patient with its 4.6% holding in Naspers, as it waits for it to raise capital.
Marshall-Lee also addressed recent concerns raised by Naspers’ shareholders over its stake in Chinese internet company Tencent, which Marshall-Lee also has a 3.7% allocation to.
Also in this video, Marshall-Lee said recent tension in North Korea has presented opportunities for the team to add to its positions in South Korean companies.
The fund currently has 6.1% of assets exposed to South Korea and Marshall-Lee said the noise could be a buying opportunity.