'Smart' cities, QE and income recovery

'Smart' cities, QE and income recovery

Fund managers give their views on the key issues impacting global asset classes and outline how they are positioning portfolios.

Hector Kilpatrick on UK growth We are becoming increasingly uneasy about the investment outlook and equity market valuations in particular.  The current equity market valuation relative to its long run average, while not unprecedented, is high and has run up very rapidly due to the strong equity market and, counter intuitively, aggressive earnings estimates cuts.  We would be prepared to look through this, if we believed a period of rapid earnings growth was ahead. Unfortunately, for now, we do not see the conditions to merit such a view.  We are concerned the US economy could hi...