DIY Investor Magazine
/
2015 Issue
12
“In an environment of low economic growth in
Europe, we are seeing increased speculation
that quantitative easing will be employed in the
fight against deflation and Euro strength.
Nobody knows how much stimulus there will be,
precisely when the central bank will act, or even
if it will have the desired effect on the European
economy.
What does seem clear to us, however, is that
it should be supportive for equity markets and
should weaken the Euro.
With this in mind, we continue to weight our
portfolio toward companies with international
sales and diversified end-markets.
EUROPE - CEDRIC DE FONCLARE, MANAGER OF THE
JUPITER EUROPEAN SPECIAL SITUATIONS FUND:
In 2013, the stock market rallied without an
associated rise in earnings. As a result, in 2014,
share prices have depended mostly on earnings
growth.
We continue to seek companies with pricing
power and the ability to outgrow the underlying
economy. We do, however, remain mindful of
valuations, deploying our cash gradually and
only where we can identify attractive entry points.
We continue to believe that this is the best
approach we can take to seeking to generate out
performance for our clients.”
