Equities

No identity: Greek woes still hinder Europe

From Japan's labour troubles to the expansion ambitions of China's online giants, Baillie Gifford's Asia managers Matt Brett and Roddy Snell explain the key themes facing Asian investors this year - and the stocks to watch out for.

Incredible swings in stock prices since the oil price dropped means volatility should now be investors' main concern, says Mark Mobius from Franklin Templeton.

Ian Aylward has cut Aviva Investors' multi-manager exposure to US equities to an underweight position for the first time since 2011, fearing the stocks are deeply over valued.

The pro-business reforms implemented by India's prime minister Narendra Modi are making state-owned companies look attractive for investors, according to Somerset Capital's Dhawal Mehta.

Hermes Investment Management's Mark Sherlock has said the lag in US capital expenditure growth is still holding back stocks despite the strong equity market returns seen in recent years.

JO Hambro Capital Management's Clive Beagles has blamed an underweight in defensive stocks for the underperformance of the £2.7bn UK Equity Income fund last year but said he refuses to invest in "bond lookalikes".

Rathbones saw its funds under management boosted in 2014 thanks to deals with Jupiter Asset Management and Deutsche Asset & Wealth Management.

Warren Buffett sold out of two of his energy stocks - including his position in the world's largest energy company ExxonMobil - as the oil price collapse accelerated at the end of last year.

Threadneedle's Richard Colwell is adding more to stocks including Centrica and GlaxoSmithKline as he seeks contrarian equity income plays for the months ahead.