US dubbed 'new emerging market' as investors snap up shares

clock • 3 min read

Leading fund managers are favouring US equities over markets including China and Europe as the appeal of owning dollar assets helps spark a shift into the world's largest economy.

Managers running global funds – including Bill McQuaker at Henderson Global Investors and Neptune’s Robin Geffen – have been increasing their allocation to US equities despite cheaper opportunities elsewhere. The move comes following a strong start to 2012 for the S&P 500, which has shot up since the start of the year, gaining 4.36% alone in January. This was the highest January return since 1997 when it rose 6.13%, according to S&P Indices. There was also a rise for the Dow Jones Industrial Average, which advanced 4.25% over the same period, leaving both within a whisker of 52-week...

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