There are still good times ahead for the mining sector, says Australian and UK-listed fund manager Henderson Global Investors.
London-based Henderson has more than $100 billion of assets under management.
Henderson's chief executive, Andrew Formica, is in Australia to visit the company's Australian shareholders and to officially launch the group's investment management business in Australia: Henderson Australia.
Mr Formica said there was strong demand from investors in Australia for global equities and property, which was Henderson's specialty.
He said it was wrong to think that there was no longer good investment potential in the mining sector.
"We are going to get a recovery under way in the next couple of years (in mining)," Mr Formica said.
China's commitment to an economic growth target of 7.5 per cent in 2013 and the ongoing recovery in the United States' economy would support mining companies.
Mr Formica said mining companies had also realised that they have to be more disciplined in their capital expenditure.
There had also been a raft of leadership changes among the five biggest mining companies in the world in the past six to 12 months, providing the companies with fresh eyes to look at things while understanding past challenges.
The pharmaceuticals sector also looked attractive given that the global population was ageing, life expectancy continued to rise, and people would have to spend much more on healthcare.
Mr Formica said equities in general were quite attractive at the moment, especially in the US, where the economy was starting to gain some traction.
"The Americans have always shown themselves to have the ability to grow and re-invent themselves," he said.
European stocks should not be ignored on the basis that the economy in Europe was weak.
"The stocks in Europe are very diverse, very global businesses," Mr Formica said.
"I definitely encourage people to look there."
Mr Formica said China was also potentially an attractive investment destination, given that China's new leadership team would want to make its mark and kick-start a new investment plan.
Legislative reforms freeing up the financial services sector also made China worth a look.
After China, the next most interesting investment destination was Latin America.
Mr Formica said Chile, for example, had a well-developed compulsory superannuation system and good economic growth rates.AAP
The new magazine for a new generation of West Australians.Click here to download »
All the latest market figures from Australia and the world.Click here »
'The West Australian' is a trademark of West Australian Newspapers Limited 2013.
All rights reserved.
Select your state to see news for your area.