Three quarters of European investors believe Europe will grow by 1% or more in 2014, with 39% believing that Europe will be the best performing equity market, according to JP Morgan’s latest Private Client Survey.
The survey, which received over 900 HNWI and UHNWI investors as respondents, also revealed that over half (54%) predict equities to be the best performing asset class of the year with 75% of respondents planning to commit additional cash to investing in 2014.
Go deeper with GlobalData
Other markets also received positive reactions in regards to equity with 35% favouring the US and 15% preferring emerging markets.
Cesar Perez, chief investment strategist for JP Morgan Private Bank in EMEA, said: "Tail risks in Europe have subsided and the continent is going through a transitional phase, from recession to modest economic growth, so we are positive on European growth in 2014 and expect it to peak between +1% and +1.5%."
He added: "While we are positive in our market outlook for 2014, we would like to see evidence of real growth in Euro-area GDP and company earnings this year. It’s a ‘show me the money’ time. If markets were to rally further ahead of the economic recovery and earnings growth this year, there is still a risk that valuations might overshoot."
These results are fairly similar to JP Morgan’s previous survey which saw 70% of investors improving their expectations towards Europe over 2013.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
