Published on Fri, Oct 03, 2008 at 08:36 | Source : CNBC-TV18
Updated at Fri, Oct 03, 2008 at 10:31
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Not pulling out of Asian markets: Tyche Group
Stephen Gollop, CEO at Tyche Group on answering a query whether they were pulling out of Asian markets told CNBC-TV18, “We are not pulling out at all. We had a relatively low exposure in markets that we saw were good value and there is just tremendous value now, but to pullout now and miss a possible bump back would be more disastrous.”
Asian markets are declining and driving the regions benchmark index to the worst week in 13 months on increasing signs of US economy heading for a recession. Stephen Gollop, CEO at Tyche Group on answering a query whether they were pulling out of Asian markets told CNBC-TV18, "We are not pulling out at all. We had a relatively low exposure in markets that we saw were good value and there is just tremendous value now, but to pullout now and miss a possible bump back would be more disastrous than any consequences staying in."
Here is a verbatim transcript of the interview with Stephen Gollop on CNBC TV-18. Also see the accompanying video.
Q: There are again credit fears, again the Asian markets tumbling- is there a bottom anywhere insight?
A: I think what the US has done it just made things worse. This delay in putting the bailout package through has started off by the dismay that it was not going through and then of course then it all surged and looked towards the credit position and when seeing companies in the US suffering from lack of credit, the general figures are looking very bad as well. So the focus has gone down and not up unfortunately. Certainly valuations look great but no confidence.
Q: Are you then completely pulling out and staying out of equities in any of the Asian markets?
A: We are not pulling out at all. We had a relatively low exposure in markets that we saw were good value sometime ago, and they is just tremendous value now but to pullout now and miss a possible bump back would be more disastrous than any consequences staying in.
Q: Which markets do you have maximum exposure in then?
A: We have exposure to India, to China and to Korea and primarily in the various different stocks and different sectors because you can pick most sectors and find good value.
Q: Which sectors in India and would it than be from a long-term perspective?
A: It has to be long-term perspective now; the classic phrase now is, 'don't sell but look at valuation.'
Q: What sectors in India?
A: It is across the board. For us the economy is looking very good in terms of potential going forward and from that you can pick most sectors. So there is no specific sectors that we are in, we are very much looking at value, looking at P/Es and holding on to those
