European view from Threadneedle

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the manager of european growth believes opportunities are round the corner but growth in 2005 will be lacklustre

William Davies, head of European equities at Threadneedle, is pessimistic about earnings growth on the Continent for 2005, but believes the market is cheap and there will be some superior stock opportunities in the year ahead. Davies manages the £533m Threadneedle European Growth fund, working with Darrell O'Dea, who runs the £924m European Select Growth offering. Over three years to 6 December 2004, these funds are ranked 32 and 34 respectively of the 87 funds in the Europe ex UK sector, offer to bid. Why do you believe there are issues with growth in the year ahead? Consensus exp...

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