Investors have been looking beyond the United States, and one Asian country stands out, according to Malcolm Dorson, a senior portfolio manager at Global X ETFs. "Investors are now looking for international allocations, and their first stop has been India," amid expectations of rate cuts in the United States, Dorson - who manages the Global X Active India ETF - told CNBC Pro on Aug. 24. Global X's parent, Mirae Asset, is one of the largest foreign asset managers in India.
India is trading at around 22 times price-to-earnings — which the emerging markets portfolio manager acknowledges is "a slight premium to its historical average" of about 19 times. However, he remains bullish, as growth and profitability rates have been picking up. "From an investor's perspective this justifies the slightly elevated multiples. The market is a touch on the expensive side, but it's nothing crazy," said Dorson.
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