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Why politics won’t upset Europe’s ‘apple cart’

Stephen Macklow-Smith of JPMorgan European investment trust says electoral risks in Netherlands and France won’t derail Europe’s recovery.

Why politics won’t upset Europe’s ‘apple cart’

Europe’s series of electoral hurdles continues today with a general election in the Netherlands that could see Geert Wilders’ Freedom Party do well, although the latest opinion polls suggest support for the anti-Islam and anti-EU party may be weakening.  

The result will be keenly observed as to whether a post-Trump, post-Brexit populist upsurge is spreading in Europe, ahead of an even more significant presidential election in France where Marine Le Pen, leader of the far-right Front National, hopes to win power.

In this video fund manager Stephen Macklow-Smith explains why investors should see through the political mayhem. He argues that although Dutch and French politics are increasingly polarised, the electoral systems in both countries make it unlikely that an extremist candidate will prevail.

The manager of JPMorgan European’s growth (JETG ) and income (JETI ) portfolios says Europe’s political uncertainty masks the growing economic recovery that makes the region’s stock markets the cheapest they have ever been compared to the US.

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