Cash and property will outdo fixed income

We are most positive about the outlook for equities, particularly in Japan and Europe, while the pro...

We are most positive about the outlook for equities, particularly in Japan and Europe, while the prospects for cash and property are better than for fixed income. We expect large cap stocks and growth orientated companies to be key themes this year. Valuation compression has made value a less attractive investment. Rising confidence means investors are willing to pay for future growth, so long as it is high quality, rather than speculative. Cashflows are still strong and continue to drive M&A activity, and with private equity funds sitting on huge reserves, we can expect bigger deals. Desp...