S&P 500 hits the 2,000 level for the first time

IndicesThe S&P 500 index hit the 2,000 level for the first time during intra-day trading yesterday, a rise of 300% from five years ago. The index returned 59% since the start of 2012, 40% since the start of 2013 and 8% in 2014 to date. Dominic Rossi, chief investment officer, equities, Fidelity Worldwide Investment, concedes that US equities are no longer cheap on most valuation measures, but says he remains bullish. Rossi says "the strength and duration of the resurgence will surprise many investors". Tom Becket, chief investment officer, PSigma, is equally positive on the US economy, adding that the Federal Reserve chair Janet Yellen "will do anything she can not to raise rates, allowing the bulls to run riot". However, Becket says even as equity markets seem likely to test new highs, it is possible to make an overtly bullish outlook for equities in the next few years. ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.