LGIM's Onuekwusi adds Mexican exposure as 'a lot of bad news is in the price'

Fearful of slowdown in China

Legal & General Investment Management's multi-asset manager Justin Onuekwusi has taken a satellite position in Mexico in his higher risk portfolios, believing the country is offering an "attractive entry point".

Onuekwusi, who runs five risk-targeted multi-index and three multi-index income funds with over £1bn in AUM, said he has become more optimistic about the prospects for Mexico and has initially implemented a small position but said this could grow over time.  "I have become more positive on Mexico and have some satellite exposure, alongside my emerging markets exposure, to the Mexican Bolsa equity index in our higher risk portfolios, as well as exposure to the Mexican peso.   "This was driven by the sell-off and the negativity surrounding the North American Free Trade Agreement (NAFTA)...