Five fund houses predict the future for 2015

Five fund houses predict the future for 2015

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Here we have a mixed bag of forecasts of what markets will do in 2015. Diversity of opinion is (nearly) the only consistent thing here, except the views on equities - everyone still loves them...

AXA IM: The global economy is expected to grow at around 3.4%. The monetary policy stimulus will shift from the US to the euro area, Japan and China. We suggest maintaining a pro-risk stance with an overweight in equities and an underweight in US sovereign debt. We are neutral on credit. Furthermore we expect volatility to grind back to more normal levels. Within developed equity markets, we have a preference for the euro area and Japan over the US, because of expected accelerating earnings growth and monetary policy support. Emerging markets will be divided by the Fed action [en...

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