Egypt remains an attractive play for emerging market investors, Emirates NBD asset management boss Salman Bajwa told Bloomberg in an interview last Wednesday. Despite a recent “wobble,” triggered mainly by global conditions such as a stronger USD and higher oil prices, “if we look at the Egyptian story over the last 12 months, it’s been a fantastic play … Inflation has been coming down, interest rates have been coming down, the macro story looks intact … and foreign net reserves have been growing.” Bajwa says that what Egypt needs now is for tourism to rebound far enough to contribute to FX reserves and for the internal consumption story to pickup. “Emerging market valuations really do look attractive, relative to developed markets and relative to history,” Jupiter Asset Management’s Head of Strategy, Ross Teverson, also said, noting that companies in EM have been delivering strong earnings despite the global economic downturn (watch here, runtime: 4:23).