Advisers still finding 'overvalued' US hard to ignore this Fourth of July

Trackers favoured over active funds

Victoria McKeever
clock • 4 min read

US equity markets may be hovering around record highs but, this Fourth of July, Professional Adviser discovers advisers are still finding it tough to ignore the world's largest market.

According to Old Mutual North American Equity fund manager Ian Heslop, the benchmark US S&P 500 index has posted a total return of some 100% over the past 10 years - effectively doubling investors' money if they had reinvested their dividends. On the same basis, the MSCI World index has returned 57% and Heslop goes on: "Thanks to the weakness of the pound, sterling-based investors have enjoyed a total 10-year return of 209% from the S&P 500 - more than tripling their money." Given this prolonged success, however, Heslop raises the question of whether US equities have grown overvalued,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

By late 2027

Patrick Brusnahan
clock 28 October 2026 • 1 min read
Investment tax relief rises by smallest amount in four years amid recent Budget measures

Investment tax relief rises by smallest amount in four years amid recent Budget measures

Bowmore Financial Planning research

Jack Roach
clock 28 October 2026 • 2 min read
Defaqto to launch rating for newer funds and portfolios

Defaqto to launch rating for newer funds and portfolios

Combines Defaqto and RSMR expertise

Jen Frost
clock 27 October 2026 • 2 min read