Investment environment very strong

At the beginning of last year and at the beginning of this year again, I would have been privately cautious, at least, about the outlook for equity markets, writes Jim Power.

After all, global equity markets have made stellar gains since the first quarter of 2009 despite enormous uncertainty and difficulties in the global economy and the global financial system over that period.

My caution was misplaced last year and so far this year it appears to have little justification. Markets are still simply surging ahead.