Anthony Bolton, manager of the £650m Fidelity China Special Situations investment trust, discusses his investment outlook for 2013.
My overall view is that a world of low growth, accompanied by low interest rates and substantial liquidity, should provide a favourable environment for equity investment. Liquidity is not just a reflection of central bank measures such as QE but is also due to large investor cash balances, which are currently sitting on the sidelines earning very low returns. We have already seen how this has driven up the prices of bonds across the world and, in 2012, higher yielding equities have also started to benefit. I believe 2013 will be the year when these tailwinds swing behind equities i...
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