Chris Wain-Lowe

AIC manager expects sentiment toward financials to improve by year-end.

Michael Ryval 9 July, 2010 | 6:00PM

Market sentiment may be extremely negative toward European and U.S. financial-services stocks, but Chris Wain-Lowe believes the malaise could lift by year's end. Currently, investors are apprehensive about financial-services regulatory reforms that are being introduced. There are also worries about sovereign debt and the impact of austerity measures brought in by countries such as the United Kingdom and Germany.

"All the regulatory issues should be out in the open, and people can do their numbers and recognize where the trajectory of growth will come from," says Wain-Lowe, 52, co-manager of AIC Global Advantage.

"As far as the sovereign-debt issue is concerned, markets will want to see the austerity measures enacted," says Wain-Lowe, who is executive vice-president, at Burlington, Ont.-based Portland Investment Counsel Inc. "That won't necessarily come before the end of the year. But for sure, next year, we are more optimistic that markets will adopt a more rational approach to valuing these businesses."

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Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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