Quant Strategy Portfolio | July update - Optimism offering better odds | We maintain our call from May 2013 that the market will experience a two year bull...

Quant Strategy Portfolio | July update - Optimism offering better odds | We maintain our call from May 2013 that the market will experience a two year bull market to 6500 (S&P 300) based on a US and China led global recovery. We turned positive in the short term on Jun 27th with market pricing in global and local risks while reporting season outlook was overly negative. Yield thematic expected to continue into 2015Q3 with Budget uncertainties, subdued global growth outlook and Central Banks maintaining low rates for longer. We continue to feel that corporate earnings will be close to expectations (i.e. no Valley of Death) while low interest rates are likely to drive M&A cycle in multiple sectors. Portfolio changes: APN, HGG and IFL were added while AMC, GXL and ORA were removed. (VIEW LINK)