PanAgora Asset Management director, multi-asset, Nick Alonso, believes that “there is a growing consensus that we are in the later stages of the economic growth cycle and positioning an equity portfolio for an uncertain path forward is prudent.

“Equity markets have been in a bull market for a very long time but there are economic signs that growth is slowing,” he adds. “For example, Eurozone Q4 gross domestic product slowed to just 0.2 per cent and there remains uncertainty as to the resolution and timing of Brexit”.


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