Invesco's Mustoe favours equities as 2018 volatility 'normal'

Levels close to those pre-Global Financial Crisis

Nick Mustoe, chief investment officer at Invesco and manager of its Summit Growth fund range, has said the volatility seen throughout last year was more "normal" than investors think and equities are currently the place to be above all other asset classes.

Despite a particularly turbulent Q4 for 2018, which saw the worst December for US markets since 1963, he said volatility levels were closer to those seen before the Global Financial Crisis (GFC). Mustoe said: "The increased volatility in markets at the end of last year certainly felt dramatic set against the much calmer market environment of recent years. But the reality is it was much closer to 'normal' levels than it felt. "Volatility has ground lower since the GFC as central banks have maintained extremely accommodative monetary policy, which has supported valuations of riskier ass...