Europe

Lucy Macdonald, manager of the Brunner investment trust, takes a closer look at the prospects for global equity markets.

Attractive economic backdrop

With many asset classes having been pumped up to high valuations by central bank stimulus, we are concerned that investors are no longer receiving particularly generous rewards for taking market risk.

Improved political visibility

Growth outlook 'turning a corner'

Outflows of €743m in June

Retail investors pulled £1.bn from property funds in June 2016

The most important factor for European equities for the foreseeable future will be the direction of bond yields.

Central banks have a 'task and a half'

Brexit is exception to 'relatively rosy scenario'