Bradbury shuns domestic plays for overseas earners

Old Mutual Asset Managers' head of equities Ashton Bradbury discusses his outlook for the asset class in the UK, outlining where opportunities may be found, valuations throughout the current cycle, and his attitude to risk.

The FTSE started the year at round about 6,000. Does that high level worry you? On a 12-month view, we are actually quite positive still. As you know, we have been positive for quite a while. We see equities valued at around about 10.5 times earnings. Profit forecasts look very achievable and we think there is a lot of M&A activity to come through the course of 2011. So for the year as a whole, we are positive – we fully accept there is going be some sort of a bump along the way. However, on a 12-month view, I think share prices will be higher. Which area of the equity market looks...