tax reform

Favourable macro backdrop

Stretched valuations

The global financial crisis, and the related policy response, is drawing to a close. We are currently enjoying a short period of synchronised global growth and improving trade.

Not acting as a safe haven

Managed by Nick Ford and Hugh Grieves

Both in US & UK market

Policy response from last crisis still 'necessary'

Inflows of €10.9bn

Structural shift in sector weightings

€12bn inflows last week