Scott Steele also worked at Pimco and BMO Mutual Funds
With Alliance Bernstein hire
June 2020 review found the directive worked well – so why open Pandora’s box?
The expected hung parliament following this weekend’s Italian election is likely to encourage fund selectors towards Italian equities and away from the fixed income sector, according to experts.
Bookmaker William Hill cut its odds for Britain to vote to remain in the EU to 1/5 yesterday, implying a probability of just 15% for Brexit to occur. Nevertheless, fund managers remain seriously worried it might well happen.
The majority of fund buyers in the Basque country and in much of the rest of Europe expect another market correction this year. Fund managers at Expert Investor Spain, held in Bilbao last week, identified China and Brexit as the main possible triggers for this.
Fund selectors in Barcelona, who again turned up in large numbers at the semi-annual Expert Investor Barcelona event last week, are yearning for another round of quantitative easing. They expect QE 2 will mainly benefit the equity markets, and they are selling off their bond holdings in unprecedented amounts.