Buying European companies does not mean buying Europe, argues Darius McDermott, who despite misgivings about the outlook for the continent still believes the right active managers can find value amid the uncertainty
At the start of the year, amid growing uncertainty as some of the leading economies slipped towards recession, I was one of the few who believed Europe still offered opportunities to investors. Fast forward six months and the MSCI Europe ex UK index has risen 12% over 2019, according to FE, and the likes of Germany appear to have dodged the recession bullet. Valuations of companies in Europe also appear to be slightly cheaper than others across the globe. That being so, the question is - am I as confident about Europe as I was six months ago? To which the answer is no. At the start of...
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
