For Stockholm headquartered, Skandinaviska Enskilda Banken (SEB) the eurozone will have a slower GDP growth of about 2% yearly between 2018 and 2020.
The bank said manufacturing and exports had been big disappointments this year but the historically high household confidence, exports, and capital spending gave potential for a fairly broad-based growth.
It noted the rising number of jobs would help sustain household incomes and expected unemployment to fall towards 7% to 7.5% by the end of 2020.
However, companies’ reluctance to boost capital spending despite high capacity utilisation would also limit their growth potential.
According to FE Analytics, the top performing fund over the year to 30 November 2018 was Aberdeen Global European Equity Ex UK A Accumulation fund at a poor 0.8%. This was the only fund that made a return over year.
This was followed by MFS Meridian Continental European Equity A1 that lost 1.1%, TT Europe Ex UK Equity D that lost 1.5%, UBS Equity Sicav Euro Countries Income that lost 2.3%, and T. Rowe Price Continental European Equity Q that lost 3.1%.
All the funds were hit during the global market sell-off in October and have no managed to recover as yet.
All funds were found using FE Analytics, were domiciled in Ireland or Luxembourg, were within the FCA Recognised and Offshore Mutual universes and were available for sale in the Nordics.
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