256. Only a 30% chance of a European recession…

<p>Europe has had a number of challenges in recent years when faced with serious threats, whether from Brexit, the pandemic or now the Russia-Ukraine war and its consequences for global energy supplies. Despite these headwinds, Zehrid Osmani, manager of <a href='https://www.fundcalibre.com/elite-funds/ftf-martin-currie-european-unconstrained'>FTF Martin Currie European Unconstrained</a>, remains positive on sentiment in Europe. Zehrid discusses the uncertainty around inflation, but also how the reopening of China has been beneficial to European companies. Zehrid tells us more about a few themes running through the portfolio in robotics, automation, artificial intelligence and the metaverse. We wrap up with the investment case for three holdings: ASML, Ferrari and Moncler.<br/><br/><b>What’s covered in this episode: </b></p><ul><li>Uncertainty about inflation and monetary policy in Europe</li><li>Why Europe is already showing signs of stagflation</li><li>How Chinese economic momentum impacts European economies</li><li>The risks posed by higher inflation and increased volatility</li><li>The geopolitical risks impacting Europe</li><li>The drive towards robotics, automation and artificial intelligence</li><li>Opportunities in the Metaverse and quantum computing</li><li>Why companies with dominant market positions are key for an inflationary environment</li><li>The structural growth opportunity in semiconductors …and investing in ASML</li><li>The pricing power of Ferrari</li><li>The growing appeal of Moncler – and the TikTok campaigns attracting billions of views</li></ul><p><b>More about the fund:</b> <br/><a href='https://www.fundcalibre.com/elite-funds/ftf-martin-currie-european-unconstrained'>FTF Martin Currie European Unconstrained</a> fund is a high conviction portfolio of medium and large European equities, with no constraints on regional or country allocations. Manager Zehrid Osmani takes a long-term approach and he believes that markets undervalue the compounding characteristics of quality growth companies. H