Emerging markets have been making headlines this year, with growing economies, populations and consumer demand all attracting investors' attention – but not all emerging markets are created equal. China is particularly worrisome given the uncertainty about its economy's future performance. George Boubouras, managing director of research, investments and advisory at Melbourne-based K2 Asset Management, shared his views on China and other regions on CNBC's “Signpost Asia.” Bublas said on September 2, “There are some opportunities in China's economy overall. But when you separate all the opportunities, you will find that there are a lot of complexities and some problems that need to be dealt with.” He said that, therefore, many Fund managers in the West are reluctant to take an overweight stance on the country. China's GDP grew by 4.7% year-on-year, lower than the expected 5.1%, and retail sales also disappointed. In addition to domestic concerns, trade tensions between the country and the European Union and the United States are also weighing on investor sentiment. The MSCI China Index, which covers 655 large- and mid-cap stocks in China, is up about 2.5% so far this year, while the MSCI World Emerging Markets Index is up 7.25%. Bublas believes that the solution to China's economic growth recovery depends on two factors: stimulating domestic demand and expanding national accounts to support the economy and businesses. “That will help reverse some of the sentiment at the consumer business level,” he said. Bublas said he has a “tactical and dynamic tilt” toward China and plays this role through “China's exporters” because their income comes from developed countries. OTHER EMERGING MARKETS Boubouras is also underweight emerging markets overall but sees opportunities in Southeast Asia, India and Greece. Talking about India, he said it now seems to be the “ideal place” due to its “strong network of opportunities”. “There is something in it, but the barriers to entry for investing in India are high… but it will not replicate or replace the way Western investors have viewed Chinese equities for decades.” The BSE Sensex index, which represents the 30 largest and most traded companies on the country's Bombay Stock Exchange, is up about 14% so far this year, while the benchmark Nifty 50 index is up about 15% as of September 5. On the Greek issue, Bublas said that Greece's “economy has improved” but needs to strengthen sectors other than agriculture and tourism to grow further. The MSCI Greece index, which includes the country's top large- and mid-cap stocks, has gained nearly 13.5% so far this year. Last year, Standard & Poor's and Fitch Ratings upgraded Greece's credit rating to investment grade, while Moody's upgraded it to one notch below investment grade. Looking ahead, Bublas is overweight developed markets and investment-grade credit. He also likes diversified developed market REITs and commodities.