William Blair plumps on Eurozone
Specialist manager William Blair has pointed to both the Eurozone and the Indian Rupee as investment growth prospects next year.
The company's head of dynamic allocation strategies, Brian Singer, said that while the Eurozone had been the very centre of political instability, it was likely to be where growth emerged in 2014 while, in terms of currency, the Indian Rupee would be the place to be.
Commenting during a recent visit to Australia, Singer claimed the Eurozone was becoming increasingly more stable, which was conducive to growth.
"There is more stability there now, and there is likely to be more stability there in the future than the market appreciates, and that's all supportive of growth," he said.
Singer said William Blair's dynamic allocation strategies were currently overweight Italy and Spain and had other exposures across the Eurozone, including the Dutch and German equity markets, and very limited exposure in France
Discussing currency exposures, he said William Blair had recently taken a long position in the Indian rupee.
"The largest exposure we have in Asia is a long position in the Indian rupee," he said.
"It's not everybody's cup of tea but it is cheaper now than since about 2007. The discrepancy between the Indian Rupee and what we would say is its fundamental value increased to such a degree that we were more comfortable taking a position."
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