Managers favour US over Europe

The outlook for the global equities markets remains mixed, with substantially different views from the different fund management houses. Nevertheless, it is generally accepted that sector allocations are remaining one of the primary drivers of performance in what is, once again, a slowing equity market phase. Jonathan Asante, chief economist at Framlington, said: "With the strong bounce in the markets over the past year, it is going to be far harder to achieve gains as there are already signs of slowing shares prices. Our fund managers have shifted their portfolios towards more defensive ...