BMO GAM's Niven: Investors need to look beyond the yield curve

Recession 'not on the horizon in the next year', manager argues

Head of multi-asset investment at BMO Global Asset Management (GAM) and portfolio manager of the Universal MAP fund range, Paul Niven, has said he remains bullish on risk assets despite widespread fears we are nearing the end of the market cycle, and in particular, is favouring US equities.

Although many investment professionals have said we are nearing the end of a multi-decade bull run, the portfolio manager told Investment Week he does not think a recession is "on the horizon in the next year" and as a result the range of funds will maintain "a pro-risk stance on equities" in the short- to medium-term. He added he prefers "equity to credit at this point in the cycle".  As of 31 May 2019, the three funds held majority overall weightings in North American equities at 29.4%, 24.2% and 19.2% in Growth, Balanced and Cautious respectively. In addition, Growth and Balanced hold...