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Heads-up: UBS have upgraded their view on global equities to attractive', a sign that they think investors should be putting more money into shares.
Despite the angst in parts of the market that valuations have risen too high, UBS reckon share prices have further to climb.
We think investors should review current allocations to equities and ensure they are at least consistent with, or modestly higher than, their long-term strategic asset allocation targets. If investors are currently under allocated to equities, we believe they should reallocate excess cash, bond, or high yield credit holdings toward stocks."
We prefer areas that are exposed to secular growth, like the US, China, (particularly China's tech sector, which we rate among the Most Attractive sectors globally), as well as global technology, transformational innovations (AI, Power and resources, and Longevity), and pockets with clear catalysts that could drive earnings upgrades (Japan and global banks)."
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