Investment trust managers in the global growth sector are looking to private equity, hedge funds and emerging markets to provide better opportunities than expensive assets in the US, UK and Europe.
Monks Investment Trust manager Richard Burns says current fiscal and monetary policies cannot be followed much longer with high GDP growth figures and record government deficit spending.
”US interest rates are going to rise and the economy grow more slowly, which is unlikely to be good for profits or an American market which remains expensive by past standards,” he says.
Burns sees poor US performance knocking on to the UK and Europe.
The global growth sector contains some of the oldest and biggest investment trusts, several going back more than a century.IFAonline
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