- While geopolitical risks have returned and are likely to stay high in 2019, European market has become less expensive relative to recent years. We believe the current economic environment in Europe and globally remains solid if unspectacular – and presents investors with opportunities to find names with good risk/reward within the European universe.
- We expect stable growth companies and defensive companies in the IT and healthcare sectors to continue to do well in this environment. Banks remain a difficult sector, while insurance may offer better and more stable yields.
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