View more on these topics

Aviva’s Fitzgerald overweights European equities

Aviva Investors multi manager Peter Fitzgerald has decided to move his portfolio to be overweight European equities.

Fitzgerald has used some of his excess cash reserves to take a new position in the £1.2bn Invesco Perpetual European Equity fund managed by Jeffrey Taylor.

Fitzgerald has given 2 per cent and 3 per cent weightings respectively in the £64m Aviva Investors Multimanager Flexible Shares fund and £146m Aviva Investor MultiManager 40-85%  fund.

He has also increased his weightings to pre-existing positions in the £2bn BlackRock European Dynamic fund, managed by Alister Hibbert, and to the £1bn Baring European Select fund, managed by Nicholas Williams.

Fitzgerald says: “We are now overweight European equities, as we wanted to capitalise on the recent falls we have seen in European equities. We see a lot of upside in this sector.”

Hargreaves Lansdown head of VCT research Richard Troue believes valuations are still attractive in Europe and that investors need to be aware that the reach of many firms goes beyond their European base.

Troue says: “We think over the past year or so, Europe has performed quite well and still looks good value. As long as there are no more big macro shocks, I think it still looks good.

“Obviously there are some short-term political risks in Europe investors should be aware of, but the long-term picture still looks good.

“People forget Europe is home to big multinational companies that have customer bases not tied to Europe so European equities is still an area we recommend to our clients.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm