The great rotation of 2013: fact or fiction?
It's too soon to predict a structural shift in allocations from fixed income to equities, says Neill Nuttall of JP Morgan AM. But opinions are divided and contrary data is stacking up.
Bold forecasts that 2013 will witness the start of a great rotation from fixed income into equities are premature, says Neill Nuttall of JP Morgan Asset Management – despite data to the contrary.
Already this year evidence is stacking up of a return to risk assets. The week to January 9 saw a net $22.2 billion flow into global equity funds, the highest level since September 2007, finds research house EPFR.
And yesterday Bank of America-Merrill Lynch published its latest fund man…
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