Analysis

The euro area is interesting because the economies of the 16 member states are quite diverse while representing a broad risk spectrum.

All eight funds in the IMA Asia Pacific including Japan sector delivered returns higher than 29% over one year according to Morningstar

As we leave behind what was possibly the most dramatic year on record for the financial markets, what should be the take-outs for 2010?

The economic environment improved steadily throughout 2009.

The UK economy is likely to have shrunk nearly 5% in 2009 yet many UK firms have shown resilient profitability.

Japan's economic recovery has proved to be anaemic in 2009 and it is a great surprise the market has underperformed its Western counterparts and the Asian markets.

Axa Pan Euro High Yield leads way as average fund in peer group gains 5.5% over past year to 1 January

Last year was a stellar year for emerging equity markets.

We remain constructive on the outlook for the US equity market over the next year and continue to see upside potential for the S&P 500 Index to between 1250 and 1350 by the end of 2010.

While job losses have been milder than those seen in previous recessions, it might be tempting to think, despite an extraordinary recession, we are set to enjoy an ordinary recovery.