Hibernian Investment Managers (HIM) one of Ireland’s leading active fund managers today launched its investment strategy for 2005. The ‘Focus 2005’ report includes a global and Irish economic preview, plus an outline of the prospects for bonds, currencies, property, key equity sectors and geographical equity markets for the coming year. HIM continues to favour the Irish equity market in 2005.
Hibernian Investment Managers (HIM) one of Ireland’s leading active fund managers today launched its investment strategy for 2005. The ‘Focus 2005’ report includes a global and Irish economic preview, plus an outline of the prospects for bonds, currencies, property, key equity sectors and geographical equity markets for the coming year. HIM continues to favour the Irish equity market in 2005.
Roy Asher, chief investment officer at HIM, said: "Ireland ticks all the boxes as far as international investors are concerned. Our economy is growing three times faster than that of our European counterparts, supporting solid double-digit earnings growth in the Irish market. While the valuation of the Irish market has increased somewhat over the last year, it still trades at a discount to US and European markets.
"In addition, with almost 50% of Irish company profits coming from Ireland, we believe there will be significant increases to earnings forecasts as we go through 2005. This adds to the attraction of the Irish equity market to both local and overseas investors".
James Forbes, senior investment strategist at HIM, said: "HIM has consistently supported investment in Ireland and our funds have a significantly higher than average exposure to the Irish market. This has benefited our Irish clients over the last ten years.
"In fact, since 1995, the Irish equity market has outperformed the FTSE World Index each year except 1999. Ireland has outperformed global markets by over 150% during this same ten year period".
Overall, HIM expects that global market returns will match earnings growth in the current year. HIM expects earnings growth in the region of high single digits during 2005.
James Forbes said: "We expect equity markets to be broadly similar to 2004 where returns were in the high single digits. While we believe that markets will continue to be somewhat ‘trendless’ this year, trading ranges will present opportunities for the active fund manager.
"HIM’s investment strategy in 2005 is geared towards these market conditions. In this environment we aim to achieve superior investment returns for our clients as we did in 2004.
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Press contact:
Kela O’Riordan, 01 617 8164, 086 606 8842, kela.oriordan@hibernian.ie
Notes to editors:
- Hibernian Investment Managers is one of Ireland’s largest fund managers, with current assets under management of over €7 billion. The company is based in the IFSC.
- HIM is the asset management arm of the Hibernian Group in Ireland
- Hibernian is Ireland’s largest composite insurer, ranked first for general insurance and top five for life and pensions and is part of Aviva plc globally
- A photograph is available in our image library and also by ISDN
- Hibernian news releases are also available on www.hibernian.ie