At first glance, European smaller companies look expensive. They trade on a two-year forward earnings-per-share multiple of 15.8x, against their 15-year average of 13x.
European politics blog
Valuations have doubled over five years
Attractive economic backdrop
Improved political visibility
Growth outlook 'turning a corner'
Outflows of €743m in June
The most important factor for European equities for the foreseeable future will be the direction of bond yields.
UK faces €100bn divorce bill
Brexit is exception to 'relatively rosy scenario'
Pictet Asset Management's Tomás Pinto
Former Fidelity manager
German and Italian elections to come
If you backed eurozone equities in the first half of 2017, well done you.
Political risk diminished
Classes A and D remain unavailable
Favouring non-sterling denominated bonds
First interview since moving to the role
Less constrained by global macro risk
Italy remains a risk
Former roles at Maris Capital and HSBC
Looking outside the 'Big Three'
The threat of populism may have abated in Europe for now, but investors in the continent should not rest on their laurels, argues Chris Hiorns, manager of the EdenTree Amity European fund.