Global Equities
Capital IdeasTM
Investment insights from Capital Group
Categories
Equity
Taking a broader look at Asia: the ASEAN opportunity
Natalya Zeman
Andrew Lee
October 8, 2024
Comprising 10 countries¹ , the Association of South East Asian Nations (ASEAN) represents a combined GDP of over $2.9 trillion and a population approaching 650 million².
In the wake of China and India’s dominance, however, smaller ASEAN countries have slipped under the investment radar and valuations in select companies look increasingly attractive.
Investment flows are beginning to return to the region and asset managers who have maintained local knowledge, relationships and research capabilities should be in a strong position to identify the most compelling long-term opportunities.
While this cohort has many differences − politics, culture, demographics, economic drivers, and levels of development − we observe common factors underpinning positive long-term growth across the region, including favourable population dynamics, increasingly stable and supportive government policy, and diversifying economies.
This paper focuses on a subset of emerging ASEAN markets, Indonesia, the Philippines and Vietnam, Malaysia and Thailand.
ASEAN countries have particularly strong growth and favourable demographics
Data as at August 2024. Source: IMF
1. Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam
2. Data as at April 2024. Source International Monetary Fund, World Economic Outlook
Learn more about
Our latest insights
RELATED INSIGHTS
Hear from our investment team.
Sign up now to get industry-leading insights and timely articles delivered to your inbox.
Past results are not predictive of results in future periods. It is not possible to invest directly in an index, which is unmanaged. The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment. This information is not intended to provide investment, tax or other advice, or to be a solicitation to buy or sell any securities.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. All information is as at the date indicated unless otherwise stated. Some information may have been obtained from third parties, and as such the reliability of that information is not guaranteed.
Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.