Top fund manager David Herro says he’s bullish on companies with exposure to emerging markets growth.

“We are extremely enthused about what’s happening in the emerging world today,” Herro said at the Morningstar Investment Conference, CNBC reports. “As people move from lower class to middle class, middle class to upper class, the impact that has on global consumption and global economic growth,” he added, citing China and India as examples. “Clearly what’s happening in emerging markets in our view is very, very positive.”

Herro’s fund has several holdings trading on developed market exchanges that have EM exposure, CNBC says. Among them: beverage company Diageo and agricultural and construction equipment firm CNH Industrial.