Schroders' multi-asset managers trade US equities for European

Schroders' multi-asset managers have begun cautiously returning to European equities, using assets taken from the US.

Johanna Kyrklund, head of multi-asset at Schroders, says her team believes the eurozone and the UK could be the next group of economies to benefit from the recovery, judging by manufacturing data and the Institute for Supply Management index. The team, which runs the Diversified Target Return fund, moved into China in the early part of last year as the index suggested it would be the first region to recover from the global fallout. The fund also had a bias towards other emerging markets and their currencies. As these markets began to overheat, they moved a significant allocation into ...