I think in this environment where we are getting a push towards de-globalization, where we are getting different regions focusing on more growth within the region, we are getting different parts of the world growing at different speeds and you’re not getting that one unifier central bank coming up and lifting at all. This means that portfolios do need to become a bit more broad. We shouldn’t be focusing just on what everyone looks at the US equities and maybe your niche. You do need to expand out and to do that, we really recommend partnering. It’s about creating those diversified portfolios with partners, focusing on what you’re good at but not forgetting that those other parts are going to help improve this income.
Gareth Nicholson, Chief Investment Officer and Head of Discretionary Portfolio Management, Nomura International Wealth Management