Guy is cautious on European equities

Manager runs low gross exposure in European Absolute Return but sees signs of optimism in financials

One year on from the launch of his European Absolute Return fund, Gartmore’s Roger Guy is cautious on the outlook for the region’s equity markets. While he is currently running a low gross exposure in the portfolio, Guy sees signs for optimism from the growing health of the banking sector to the ongoing opportunities China growth presents to exporters. How has the European AR fund done in its first year? We had a satisfactory first year of trading on the fund. It was up round about 10% net, which is pretty much broadly what we aim for in all market conditions. We try and achieve a so...