City Financial's Harris: emerging market sovereigns overpriced

Harris, manager of City Financial's MultiManager Growth fund, MultiManager Income fund, Diversified and Dynamic funds, which total just over £100m, said mid-cap companies in developed markets are the best hunting ground for quality growth opportunities. "We believe that there will be a moment when investors attach a premium to companies with structural growth prospects," he said. By comparison he said emerging market sovereigns appear overpriced. "Emerging market sovereigns appear overpriced and many developed sovereign bond markets sold off heavily in the first weeks of 2013. "...