Last month John Tobin, portfolio manager of the Epoch Global Equity Shareholder Yield Funds, visited Australia. He came prepared to share Epoch’s macro outlook with financial advisers around the country, an outlook he summed up in two words – ‘cautiously constructive’.

In this article, we unpack what this means and how advisers can best maintain a global equity exposure in a ‘cautiously constructive’ environment.

Economic outlook – cautiously constructive