Multi-asset sentiment indicator: Japanese equities the Q4 favourite

Sentiment to different growth, defensive, and diversifying assets

clock • 5 min read

Professional Adviser has joined with Scopic Research to share the results on a quarterly basis. Here, managing director Paul Ilott summarises the findings for Q4...

Some multi-asset teams remain relatively pessimistic about the outlook for most equity markets - citing that higher borrowing costs are yet to filter through to real economies. These teams remain cautiously positioned in asset allocation terms and often prefer to overweight defensive industry sectors. If equity markets continue their recent upward trajectory, we might expect portfolios managed by these teams to lag broader market indices. Less valuation-conscious investors and multi-asset teams invested predominantly or wholly in passives are likely to outperform in this scenario. C...

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