Developed market growth ‘increasingly significant’

The co-head of multi-asset investing at Henderson said growth dynamics in emerging markets were “weakening”, with the team retaining a preference for developed market equities in Japan, US, Europe and the UK.

Mr O’Connor said: “Our cautious outlook remains in place across equity and fixed income asset classes, with a preference for strategies that offer a degree of protection from current market levels, either through defensive positioning or contrarian holdings.”

As of 30 April, the Henderson multi-asset team had £6.3bn assets under management.

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