Fishwick sees volatile times ahead for equities

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head of asset allocation for the portfolio management group at M&G puts premium on active fund management and tactical stock picking

M&G is expecting moderate returns and high volatility from Western equity markets in years to come, putting a premium on asset allocation and active fund management. David Fishwick, head of asset allocation for the portfolio management group at M&G, said active management is likely to produce a far higher proportion of total returns than it has done in the past 20 years. He sees strategic and tactical asset allocation having a greater role to play than in the past, and M&G predicts behavioural finance could be helpful in allowing managers to exploit opportunities in the market. For the ...