Economy

Dublin professionals upbeat on economic forecast

By Business & Finance
16 December 2013
Quilter

A leading investment specialist has told an audience of senior professionals in Dublin there is cause to be cautiously optimistic about the economic outlook.

Duncan Gwyther, the chief investment officer for Quilter Cheviot Investment Management, one of the largest independent asset managers in Ireland, the UK and Jersey, told more than 70 financial professionals that the signs point towards modest Irish and global recovery over the next year.

The audience of financial advisers, accountants and lawyers gathered in the city at the Merrion Hotel for an annual investment insight seminar organised by Quilter Cheviot’s Dublin office.

Gwyther, who has overall responsibility for some €18.14bn of funds under management at Quilter Cheviot, advised his audience that despite high unemployment and households still struggling to secure credit, consumer sentiment continues to improve.

He added that price-earnings ratios suggested there is still room for market improvement and that he is favouring equities for investment rather than bonds.

Gwyther has had overall responsibility for Quilter Cheviot’s investment strategy since 1998 and is lead investment manager for the company’s institutional clients. He is also chairman of the FTSE APCIMS private investor indices committee.

Brian Weber, executive director at Quilter Cheviot’s Dublin office, says there are increased signs of confidence in the economy amongst financial professionals from across Ireland.“The economy is starting to recover and our colleagues in the financial services sector here in Dublin are all reporting an upturn in confidence.

“What’s interesting is the purchasing managers’ index is looking favourable, which indicates a positive outlook for the manufacturing sector. There is also growing confidence in a recovery in the housing sector.

“Our colleagues who are independent financial advisers agree that there is, for the first time in five years, a genuine sense of optimism in the city about the economic outlook.

“Interest rates look set to remain low for the foreseeable future, inflation is under control and continued growth in the States is giving momentum to the upturn.”