Even in emerging markets with more robust economic growth than Europe, financial markets will likely remain choppy, he says. "You need to remember that financial markets and the economy are sometimes not linked. We saw that last year from March until September when the markets did very well before the economy had turned. We could see a similar situation during the course of this year."
But overall he believes it's going to be a fairly good year for worldwide economies and for the fund. "We had a good year last year, with a 35% return. This year, we're hoping for 10% or 15%. But no promises."
