The latest investment report from Prospect Wealth Management
In summary:
- European Central Bank’s liquidity programme has averted a credit crunch. A major positive for European growth.
- The liquidity programme allows Italian and Spanish debt to be funded “through the back door”. The threat of euro break-up is much reduced – positive for equities.
- US economic data have been surprisingly robust and point to an acceleration in growth. Another positive for equities.
- Equity markets are extremely cheap relative to bonds and cheap or fair value in cash flow terms.
- We have moved to a modestly overweight position in equities.
[download id=”15″]
Prospect Wealth Management brings the highest standards of professional investment management to the individual investor, charities and trusts.