Moderate return expectations from Europe

Following the European Central Bank’s massive quantitative easing programme, which was announced in November last year, European equities have rallied perhaps a bit too much, according to the firm. “Given that valuations are sitting at a 10-year high on a forward price-to-earnings metric, strong earnings growth is increasingly necessary to justify these valuations,” the firm […]

Fund Selector Asia

AXA IM turns underweight on Chinese equities

“[A] word of caution is warranted following the stellar performance of Chinese equities over the past year or so. “Today A-shares trade at or above a 20x multiple and look simply expensive. A correction would offer a welcome breathing pause,” the fund house said in its asset allocation strategy note. In the medium-term, the investment […]

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