european equities

Nigel Bolton, head of the BlackRock European equity team, has picked his winners from among Europe's unloved sectors as equity valuations fall to '100-year lows'.

Jupiter's Gregory Herbert has been promoted to manage the group's European Income fund, taking over from Cédric de Fonclare.

Investec is to merge away its European fund due to its small size.

OUTLOOK 2013

SMART MONEY

Argonaut's Barry Norris has said he will never invest in a gold stock again, after selling out of his stake in Swedish-listed company Nordic Mines at a 75% loss.

Henderson's Richard Pease expects improving economic indicators, combined with hedge funds putting their cash back to work in equities, will lift European markets towards the end of the year.

Equity fund flows surged to €1.91bn in September, the first positive monthly figure since February, Morningstar's latest European fund flows data has shown.

Schroders' Nick Kirrage, co-manager of the £1.1bn Income fund, looks beyond the headlines in troubled Europe and finds some surprises in the region's hard numbers.

Global asset allocation managers are reviewing their strategies as the valuation gap between US and European equities widens.