In its second investment report for 2015 Coram said that there are caveats to the optimistic outlook many hold however, and risks remain.
On the postive side, the wealth management firm headed up by Martin Gray and James Sullivan points to improving economic data and strong levels of M&A in the United States as a plus point for global markets.
Japan is also a relative bright spot according to Coram due to the good corporate results being posted recently.
Within emerging markets Coram noted Brazil has been a ‘star performer’ thanks to the adoption of ‘a more responsible fiscal approach.’
Coram noted that by historical standards the recovery remains ‘sluggish’ however, and issues such as Greece, interest rate hikes and geopolitics could ‘slow what momentum there is.’
Given all this, Coram cautions that ‘the insouciance of asset prices can be seen as concerning’ while current valuations on risk assets are ‘open to question’.
Against this backdrop Coram said a ‘cautious’ approach to investment acknowledging both the clear positives and ‘undeniable’ negatives is merited.
