Multi-asset teams sentiment indicator: Positive view on UK equities on 12-month view

Negative on US equities

Scopic Research monitors the sentiment of multi-asset teams towards different growth, defensive, and diversifying assets on a quarterly basis. The sentiments are based on a 12-month view. Investment Week has joined with Scopic to share the results on a quarterly basis. Here, Paul Ilott, managing director of Scopic Research, summarises the findings for Q1 2024.

For some multi-asset managers, resilient economic growth in the US, together with the prospects for interest rate cuts (at some point) and a soft-landing scenario, all point to a positive outlook. For others, the potential for inflation, and therefore interest rates to remain higher for longer together with the implications that this has for corporate profitability, point to the prospect of slowing economic growth or even to recession. Should the former prove to be the case, those multi-asset teams who have positioned their portfolios more positively (or who are less valuation conscious...