China key to Chatfeild-Roberts' 2012 risk appetite

Jupiter CIO John Chatfeild-Roberts said he will not take punchy bets on risk assets while there is still the threat of a hard landing in China.

Speaking to Investment Week, the head of the £7bn Merlin multi-manager range said the macroeconomic backdrop in China will be more significant than events in the US or Europe.  Chatfeild-Roberts said the current equity rally is likely a mean reversion rather than the start of a more significant trend, despite improving economic data from across the Atlantic. “UK stocks are up 7% this year, Latin America is up 20%, and the figures coming out of the US are improving. But it is China that would be a differentiator,” he said. The manager has added elements of risk to the portfolios but...