As the global recovery shows signs of being more entrenched, Trevor Greetham, director of asset allocation at Fidelity, looks at how to position portfolios for an upswing that could last years.
As another round of Washington fiscal brinkmanship comes to an end, investors will focus once more on the strong fundamentals that have driven a 20% increase in global stock prices during the past year. The recovery in global growth is broadening, with strong business confidence in the US and Japan enhanced by rising optimism in Europe and China. In the UK, a housing-led recovery has taken hold with a vengeance, with some real-time GDP growth measures running at annualised rates in excess of 4%. Even euro area unemployment is falling for the first time in two years. The current econom...
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