Concerns over US current account and budget deficits

Europe still offers good opportunities but the US is a concern, according to Bambos Hambi, head of multi-manager at Gartmore. Commenting on Gartmore's asset allocation strategy across its five funds of funds, Hambi says: "Within equities we favour Europe predominantly, second the UK and we are neutral on Japan, Asia and emerging markets, where we think medium to longer term there are fantastic opportunities but currently the risks are quite high. "We remain very underweight the US. We are concerned about the structural deficits in America, the current account deficit and the budget defi...