UK equities are trading in the "strangest market" ever seen, according to Standard Life Wealth's chief investment officer John Hair, as he warned investors to avoid passive strategies in a "stockpickers' market".
Hair, who was appointed CIO last year and is responsible for the firm's investment portfolios, said UK equities have the potential to outperform global equities over the next five years, offering returns of around 6% per annum compared to around 3% per annum from US equities, with less volatility than other regions. He highlighted opportunities in domestic UK equities such as retailers and consumer cyclicals, which are cheaper than international earners such as HSBC and BP, and are being avoided by investors nervous about their future trading environment after Brexit. However, Hair sa...
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