CASSH: Five Countries That Offer Hidden Value
iShares What is CASSH? BY RUSS KOESTERICH CASSH is an acronym that stands for for Canada, Australia, Singapore, Switzerland, and Hong Kong - five smaller, developed countries that offer hidden value. HONG KONG SWITZERLAND AUSTRALIA CANADA SINGAPORE WHY? The CASSH countries appear fundamentally stronger than most of the large, developed countries. Here's why: DEBT TO GDP 100% 1 LOWER SYSTEMIC CREDIT RISK 50% These smaller developed countries are less burdened by debt and structural deficits than their larger counterparts. 0% CASSH EURO COUNTRIES REGION SOURCE: BLOOMBERG 10/30/2011 THEIR MARKETS COMPETE ON A GLOBAL SCALE The CASSH countries have profitable corporate sectors that are at least as competitive as those in larger developed market countries, POTENTIAL FOR FUTURE GROWTH Countries with a combination of low debt-to-GDP ratios and good fiscal health generally have a positive outlook for future growth potential. LOWER DEBT LOAD FUTURE GROWTH POTENTIAL REDUCED DAMAGE FROM FINANCIAL CRISIS 4 PROJECTED GROWTH IN 2012 The CASSH countries are expected to grow by an average of 3.5% next year, roughly double the expected growth rate for the United States, Europe and Japan. 4% REAL GDP ESTIMATES 2012 3.5 SOURCE: BLOOMBERG 9/30/2011 3% CASSH 2.7 2% 2.2 1% 1.0 AVERAGE CASSH JAPAN UNITED STATES EURO REGION * The euro region currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Source: Bloomberg BLACKROCK
CASSH: Five Countries That Offer Hidden Value
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