fund manager views

Much has been written about the uncertainties hanging over UK equities, with some investors even labelling the UK as 'uninvestable'.

Unloved for a generation, Japan's equity markets are coming back into favour - and for good reason.

The consumer markets of China, India and Indonesia have grown at year-on-year rates of 5.9% to 9.5%.

Europe is full of secular growth trends including digitalisation, faster growth in emerging markets, consumer loyalty to premium brands and increased health awareness.

September's disastrous Salzburg summit brought the risk of a 'no-deal' Brexit into sharper relief.

Over the past quarter, infrastructure globally has endured some highs and lows, with the US, in particular, surging ahead and buoyed by strong economic growth while Europe has faced a series of challenges.

This has been the longest bull market on record. This late in the business cycle, we believe it is worth focusing in particular on the merits of investing in US defence stocks.

After an unusually calm 2017, we have seen volatility return to equities across the globe, with many markets seeing growth moderate.

UK markets have become increasingly volatile, as the prospect of a no-deal Brexit looms ever larger.

Let us be clear: banks remain a big contrarian trade for European investors, even more so than autos.