Royal London Asset Management’s (Rlam) recent hire, Trevor Greetham, has backed European and Japanese equities to outperform, prompting him to add to his equity holdings.
Rlam’s head of multi-asset said he had been “buying on the dips” in the market caused by investors’ fears around a Greek exit from the eurozone and Chinese growth concerns.
Mr Greetham, who joined Rlam from Fidelity earlier this year, said he favoured Japanese and European equities due to the scale of monetary easing in both markets.
“This is the equity-friendly recovery phase of the cycle and we are overweight stocks versus bonds in the multi-asset funds we manage,” said Mr Greetham.
“We favour Europe and Japan, markets with the best growth outlook and the most aggressive monetary easing.”
Mr Greetham said he had taken advantage of the “depressed” sentiment over the summer, which had seen the MSCI AC World index at one point fall nearly 10 per cent from peak to trough, and had “used the latest bout of uncertainty to add to equity positions”.
