Global bull mkt has begun, to last several years: Fidelity
A special series run by CNBC-TV18 called Global Markets: Turning Point? elaborates on if the forceful nature of the global rally as seen in the recent past points to a turnaround. Some of the economic data points have improved over the last couple of months which is why the question needs to be asked whether indeed we are at a turning point in global equity markets.
Anthony Bolton, President – Investment, Fidelity International, was the legendary fund manager of the Fidelity Special Situations Fund, which was a big outperformer since the early 1980s and today he advises overseas Fidelity’s investment group across the world and also mentors all of its young fund mangers.
Bolton feels a new bull market has started, which will last several years. “The exact trajectory is very difficult to predict though,” he said. At some stage, he said, investors sitting on cash will panic and that money on the sidelines would get reinvested. “I think that phase is some time this year. But exactly when it is is very difficult to say.”