Rathbones: German equities are only European assets worth buying

Rathbones head of multi-asset David Coombs has bought into the Barings German Growth trust in the view German equities are the only attractive shares in Europe.

Coombs has taken a 2.3% in the trust in his £26m Strategic Growth Portfolio, and may top this up to 5% in the future. Last July, Coombs sold European funds from Schroders, Fidelity and J.P. Morgan, and in May he divested the remaining diversified European holding, Jupiter European. "I just wanted exposure to Germany as Europe's economic powerhouse, and Barings' fund has large-cap and mid-cap holdings," Coombs says. "Country-specific issues are going to be more important, and that is shown by the significant issues seen in Spain and Greece. Five years ago, Europe was a convergence t...