Time to rebalance to catch surge in profits

Professional Adviser
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The last quarter of 1999 showed exceptional equity performance in Europe on the back of a recovering ...

The last quarter of 1999 showed exceptional equity performance in Europe on the back of a recovering economy. The recovery continues but the level of performance is unlikely to be repeated. There are two main areas of interest - the growth in GDP is benefiting the cyclical stocks and the restructuring stories in technology and telecoms is pushing these stocks higher. Gary Clarke, senior fund manager for European equities at HSBC, went long against the index in two areas in the last quarter - in technology and telecoms stocks, where he made the substantial part of his performance, and in ba...

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