Newton's Harries warns investors to hold back from Europe

Newton's James Harries has urged investors to hold back before redeploying cash into Europe.

Harries (pictured), the manager of the £3bn Newton Global Higher Income fund, said improving sentiment on the region is "not enough" for him to take an interest in a broader selection of European equities. "We are not predicting a eurozone break-up, but we do not think you should go in too early on the assumption that it will not break up - so we are still avoiding those regions," said the manager. Harries is avoiding peripheral Europe completely, but has exposure to Switzerland, Norway, Germany and the Netherlands, with 30% of his portfolio held in the region. Over recent months, ...