Graham Duce

“In light of the ‘risk on’ trade being back in vogue and the double digit returns from many equity markets over a very short period of time, we remain slightly cautious that the announcement by the US Federal Reserve in early November has already been anticipated and therefore priced in by the financial markets. While we do believe the authorities will avoid a “double dip” and that the global economy will enter a period of slow growth rather than no growth, we do feel that there may be a better buying opportunity to deploy our 7 per cent cash.”