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“Unless the fiscal or the monetary impulse in China fades materially, we would argue that the bottom-up story is starting to take over from the top down story and that story is actually very good.
“We have basically had a market built on hope that things will get better, and we think that valuations, ‘p’ multiple expansion will fade into the second half, but we hope that the ‘e’ will rise.”
It gained £300m in new money during the first quarter, down from £700m at the start of 2023
The 2% uptick in real earnings ‘will be of concern to the Bank of England’
Research from Edison Group, Hardman & Co, Kepler and QuotedData will be accessible on the AIC website
Paul Spells was previously head of ETF sales UK at Circa5000
Investments into to Japanese equity ETPs for 2024 are already half of 2023’s total
Passive funds were the most popular purchase, accounting for 74% of all sales over the period
