Energy infrastructure continues to deliver

Guardian's Michele Robitaille also adds to oil holdings.

Sonita Horvitch 17 April, 2013 | 6:00PM

Michele Robitaille, managing director and equity-income specialist at Guardian Capital LP, says that there is still a need for a conservative, cautious approach to equities, given the global macroeconomic uncertainties and the elusiveness of corporate earnings momentum.

"Our approach today is to be neutral between our weightings in defensive and economically sensitive stocks in the dividend-oriented portfolios that we manage," says Robitaille.

Of the global macro picture, Robitaille says that Europe "will remain an ongoing source of concern and there will be flare-ups from time to time." By contrast, she says, the United States is "showing signs of modest strength and China has the tools to engineer a soft landing." In all, she says, the global economic recovery "remains muted and longer-term growth will be dampened by fiscal austerity and deleveraging in most regions of the world."

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Sonita Horvitch

Sonita Horvitch