BlackRock fund manager leans towards bonds

Singapore

EVEN though economic fundamentals have improved in the past year, BlackRock multi-asset fund manager Justin Christofel remains cautious as some data such as US car sales growth has been losing steam while recently released inflation and retail sales data has also been slightly weak.

Meanwhile, many assets are fairly or even expensively priced, he said. "While the backdrop is positive, we could see equity returns in the next one to two years keep pace with earnings growth, which could be in the high single-digits," said Mr Christofel in an interview last Thursday.