Asian stocks have soared, led by Japan's Nikkei, as investor confidence was boosted by Tokyo winning the race to host the 2020 Olympics.
From Japan to the US via Europe and the UK, L&G Investments' multi-managers Tim Gardner and Alan Thein give their views on the global investment landscape.
Japan equity managers are buying back into domestic companies and cutting their exposure to export-led firms as the slowdown in China and a flat yen weigh on sentiment.
Eurozone countries face a decade of deflation and stagnation if governments fail to tackle debt and slow growth plaguing the region, Standard Life Investments' global strategy head has said.
Investors should be thinking about cutting their exposure to Asia and emerging markets and looking more to the developed world, according to F&C co-head of multi-manager Gary Potter.
Japan's key Nikkei 225 index endured further sharp losses on Thursday, entering a bear market as investors sold Japanese shares ahead of an expected tapering of QE by the US Federal Reserve.