Brewin Dolphin sees success ahead for Neptune European

Brewin Dolphin has tipped Rob Burnett’s Neptune European Opportunities fund for success in 2014 as it remains bullish on European markets.

The wealth management firm said Mr Burnett’s fund has had a “challenging couple of years”, but was well set to benefit from what Brewin sees as a slight improvement in the European economic outlook.

Ben Gutteridge, head of fund management at Brewin Dolphin, said: “The ongoing domestic recovery in Europe, as evidenced by supportive fourth-quarter economic data, has resulted in more favourable treatment by equity investors amid the recent turmoil.

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“Although we do not expect much in the way of GDP expansion next year from Europe, even a modest improvement in revenues would translate into meaningful earnings growth. This is a result of lean workforces significantly dampening operating costs.”

Mr Gutteridge said that the recent falls in the market, caused by concerns about slowing growth and money supply in emerging markets, then exacerbated by poor US data, had been overplayed.

He said that the data in the US had been skewed by poor weather so that it was “merely a blip in a well entrenched recovery” and said that investors should “buy on the dips”.