Henderson's Bennett: 'Same old problems in Europe have not gone away'

Reduced number of stocks to increase conviction

John Bennett, manager of the Henderson European Focus Trust, said he is less positive on European equities than he was this time last year warning the "same old problems" have not gone away.

As a result, the fund manager (pictured) has reduced the number of names in the portfolio to increase conviction as he said stock selection will be absolutely crucial in the coming year. He said: "It is a cliché to say 'it is a stockpickers' market', but we believe European equity investors need to be more careful than ever with what they are buying." "The same old problems have not gone away. Developed markets are trapped by public indebtedness, meaning interest rates are likely to remain at ultra-low levels to ease the burden and central bankers seem determined to keep the party goi...