The decision by many central banks to introduce quantitative easing following on from the global financial crisis has forced investors to look outside of bonds in order to get returns. Many have turned to equities, and in particular to defensive shares with bond-like characteristics. However, nowadays, markets are expensive and defensives are too. Orbis Investments details the rationale behind this and what it could mean for your clients’ returns.
This article was first published by Orbis Investments.
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