Janus Henderson's Stevenson: UK is sleepwalking into disaster

Brexit is exception to 'relatively rosy scenario'

Tim Stevenson, manager of the £240m Henderson Euro Trust, has said European equities are 'ticking the right boxes' as the economy is recovering and the political backdrop has settled, but he remains wary of Brexit uncertainty.

The recovery in Europe remains on track after outperforming the US over 2016 and continuing to grow faster in the first quarter of this year. Equally, the £240m Henderson Euro Trust, which celebrates its 25th anniversary since launch this year, is already up 20% year-to-date, highlighting this improvement. Manager Stevenson (pictured) said: "European equities tick a lot of the right boxes right now. Economies are recovering [and] valuations are not excessive. "The final part of the jigsaw puzzle might have been earnings growth, but here too Europe is, at last, getting close to achi...