Refinancing measures the key to resurgence in European equities

Managers on the Continent are sceptical of the impact government stimulus packages will have on their own

Managers are seeing more hope for resurgence in European equity markets from companies' refinancing measures than as a result of government stimulus. Several funds in the IMA's Europe ex UK sector are being tentatively repositioned to take advantage of low valuations and selective prospects for income and dividends this year, after a defensive 2008. Banks are still unattractive however financials on the Continent are picking up interest for some non-life insurance companies. According to Morningstar, the Odey Continental Europe fund was ranked first in the sector, over the past one an...