Europe looks robust but valuations better in US

There are strong signals for global fund managers to buy into the US and Japan, despite the robust European economy, according to David Sheasby, global portfolio manager at Aegon Asset Management. The Japanese equity market has been at a low for 10 years and the bad news has been discounted, he says. "Europe is a strong economy and has remained relatively immune to the slowdown, which makes it attractive, but valuations in Japan and the US are more inviting." But Jonathan Arthur, fund manager of the Deutsche Managed Portfolio Fund, says he has moved to an overweight position in Europe, b...