Scotland’s Biggest Money Managers Cool on Asian Stock Outlook

(Bloomberg) -- Scotland’s two biggest fund managers say it’s getting tougher to make money from Asian stocks.Aberdeen Asset Management Plc has been reducing its holdings because of their valuations compared with other parts of the world, said Mike Turner, head of strategy. Ronnie Petrie, head of Asian stocks at Standard Life Investments, sold shares such as Japanese computer gaming company Nintendo Co. and bought Globe Telecom Inc. in the Philippines.

Investors are growing wary that Asian central banks are starting to raise interest rates and unwind measures designed to lift their economies. China may tighten monetary policy starting in the second quarter of 2010 because of faster growth and rising consumer prices, Goldman Sachs Group Inc. said Oct. 29.

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