ISA season 2014: Where is the hot money going?

This year's ISA season presents a radically different set of options to last year. In March of 2013, equity markets were still relatively unloved, fixed income markets still buoyant and income remained at a premium. A year on and only one of those factors is still present: equity markets have rallied and fixed income has been hurt by Federal Reserve tapering, but the desire for income remains in place. The dilemma for equity investors is that developed markets now look relatively expensive, while significant problems remain in many emerging markets. It would take a brave investor to r...