For the first time in more than a decade, global economic recovery is reliant on the developed world, writes Andrew Cole, investment manager on the Baring Multi Asset fund.
Recent events in Cyprus have brought the eurozone sharply into focus once again. This development comes at a time when a strengthening US economy is showing good growth, while emerging markets are exhibiting different levels of economic momentum. In this environment, the benefits of a flexible multi-asset mandate – and owning the right assets at the right time – remain as strong as ever. During an uncertain period in 2012, our multi-asset portfolios were generally focused on lower risk assets such as developed government bonds and cash. Today, we believe the macro picture is more support...
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