Johanna Kyrklund's 2018 outlook: While the going is good

The global economy is experiencing its most synchronised expansion since the global financial crisis and, in tandem with the economic upswing, the outlook for corporate profits also appears favourable. This supports our positive view on equities and the stance we have taken via our exposure to emerging market assets. In fact, over the summer we increased our cyclical exposure further through investments in US banks and US small caps that should benefit from any upside surprise from US fiscal policy. On the other hand, we believe investors are paying too high a price for growth stocks and...