The telecoms sector will be the best global performer over the next 12 months and consumer goods and...
The telecoms sector will be the best global performer over the next 12 months and consumer goods and utilities the worst, based on predictions from European fund management groups.
In the December survey by Morningstar, only 5% of those questioned expect sterling to be a strong currency in 2005, although only 14% believe it will be the weakest.
While the euro and the yen are seen as the most likely candidates to be the strongest, with 43% and 38% respectively, more than two-thirds of those questioned thought the dollar would be the worst performer.
This pessimism on the dollar is reflected in more general market predictions, with more than 50% of the groups believing the US will be the worst performer.
Asia ex Japan is expected to be the best, with 28% of votes, although Japan and Europe were close behind with 23% each.
Few groups were prepared to make a call on whether value or growth will outperform next year than in the previous month, with about 55% opting for neutral compared with less than 40% in November.
Opinions on the best fixed- interest sector next year were also evenly spread, with developed market government debt winning to 33% of votes, followed by high yield bonds at 26%, emerging market debt at 23% and investment grade corporate bonds with 18%.
The survey was across 10 European countries and 40 groups, including the UK's Aberdeen Asset Management and Threadneedle Investments.