Europe

PROTECTION

Prolonged low inflation has sent commodities allocations among fund managers to a four-year low, according to a new survey.

Investor complacency and a "feeding frenzy" for yield represent the biggest current threats to investors, according to David Coombs, head of multi-manager investments at Rathbones.

The decision by the European Central Bank (ECB) to cut interest rates is a "positive step" but more pro-growth polices are needed, according to the chief investment officer of Close Brothers Asset Management.

Marcus Brookes, head of multi-manager at Cazenove, is backing Europe over the US despite the region's problems.

F&C's co-head of multi-manager Gary Potter - a self confessed bear on Japan for many years - said the country is turning around for the first time in two decades.

Investors in Norway, the Netherlands, Switzerland, UK and Germany are less worried about pension provision than in other EU countries.

Investor demand has driven Standard Life Investments to resister some of its most successful SICAV funds in France, Belgium and Italy.

Active investment specialists RWC says the current economic environment for its new Cayman-domiciled European Focus Fund provides the perfect backdrop to work with stakeholders to achieve genuine alpha creation.

James Burns, head of the multi-manager desk at Smith & Williamson, said he sees investment opportunities in Europe, Japan and the United States (US).