GAM's Gallagher: The best stockmarket returns are not behind us
Niall Gallagher of GAM
2017 marked another strong year for European equities, with the MSCI Europe index providing a total return of 11% and the MSCI Europe ex-UK index providing a total return of 12% in euro terms.
Yet even this obscures the ‘true' level of returns apparent when one looks at performance in US dollar terms, apposite given that nearly half of revenues of European equities derived from outside Europe...
