Jupiter's Peter Lawery has said the next five years promise to be uncomfortable for investors as they try to dodge 'punches' in the form of central bank policy moves.
The co-manager of the £4.7bn Jupiter Merlin Income portfolio likened the uncertainty of tapering in the US to a famous Mike Tyson quote: "Everyone has a plan until they get punched in the face." "The most recent punches are coming from central bankers, especially the Federal Reserve," Lawery said. "The ‘will they, won't they?' debate is dominating everything at the moment, which is a somewhat ridiculous situation to be in. "Risk asset markets are taking fright because [the Fed] might reduce stimulus, but QE is supposed to be an unconventional policy - is taking it away not a sign t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
