Aberdeen's Barr: Forget chaotic Europe, the US smells like a real recovery

Aberdeen Asset Management's Alex Barr says the turnaround in the US 'smells' like a real recovery, leaving him far more excited by the opportunity across the Atlantic than in 'chaotic' Europe.

While the beaten up single currency block and its potential for a turnaround have drawn buyers, Barr, co-manager of the Aberdeen Private Equity Fund, said he is 'weighing' the opportunity in the US, waiting on some positions within his £115 million portfolio reaping the benefits of its revival while keeping his eyes open to new ideas.

'The resurgence in the US and onshoring in manufacturing looks interesting,' he said.

'There's a real air of opportunity in the US - it smells to me like previous recoveries.'

Barr said if he was constructing a portfolio from scratch, he would skew it to the US, but in his own trust he is also looking to technology bets to deliver.

'There's a time to be conservative and a time to get involved in interesting ideas.  Personally, I sill think we are in the middle of a technology super cycle,' Barr said.

He added: 'I'm very excited about the longer term prospects for the US.  For me, I'm still excited about the chaos in Europe, but if I had a blank sheet of paper, I'd have a bias to the US.'