Canaccord Genuity looks to European equities and property

Nigel Cuming, CIO of Canaccord Genuity Wealth Management, is considering allocating to European equities and property as equity markets continue to rally.

Recently, the wealth manager increased allocation to equities by around 5%-6% across portfolios, taking its allocation close to the maximum, but Cuming (pictured) said there is scope for further equity investment. "If there is a dip, we have some money to invest, but at the moments prices are quite inflated in most markets and we do not want to go all in," he said. Having topped up the allocation to US equities, Cuming is now looking at European equities, where the group has an underweight. Valuations in Europe are looking more attractive in relation to the US, where the Dow Jones ...