Equities

US market valuations are not near bubble territory despite being at record highs, with the current rally different to the pre-crisis period because of resurgent US growth, veteran US equity manager Ed Cowart has said.

THE BIG QUESTION

Chelverton Asset Management is to launch a small-cap fund in September after expanding its team of fund managers.

Johan Utterman, manager of the Lombard Odier Golden Age fund, outlines the problem of aging populations and highlights a number of stocks investors can buy to access the theme.

Dividing Europe in to 'core' and 'peripheral' markets is an old debate, and now it makes more sense to distinguish between growth and no growth markets, explains Johan Jooste, UK chief investment officer at Julius Baer.

Substantial risks do remain in the US market, but steer clear of cyclical sectors and it should be plain sailing, argues Carmignac Gestion's Sandra Crowl.

Positive economic news in the US and the continuing recovery in the UK have pushed equity valuations near to peak levels. So where can investors turn for protection in case markets fall from here?

Investors have been lulled by the "calm before the storm" in terms of low volatility, the managers of the Ruffer Investment Company have warned.

Threadneedle global emerging market manager Irina Miklavchich explains why she has topped up holdings in Asian tech companies, and is closely watching the trouble brewing in China's real estate sector.

THE BIG QUESTION