It’s already happening. Don’t let the recent sell-off scare you: The smart money is moving out of the U.S. and going abroad. The risk-off cash position is due to the Fed. The rest is a symptom of a red-hot U.S. stock market that got too expensive for its own good, and right at a time when interest rates are rising and tight labor markets have peaked. If the Fed goes dovish next year, investors expect a lot of that cash to go into emerging markets.
City of London Investment Group (LON:CLIG) is an asset management group which specialises in investing in closed-end investment companies. The firm is authorised and regulated by the Financial Conduct Authority and registered as an Investment Adviser with the Securities and Exchange Commission.