London-based Hughes manages $17.5 billion in global equities. He recently met with FinanceAsia amid a worldwide series of meetings with institutional clients.
You've been travelling around the world. What's your message
The theme we're pursuing is not one specific to 2006. We're making the case to institutional investors that for the past 15 years, the world has enjoyed the most stable set of economic conditions ever recorded. We haven't had this economic growth and stable inflation since the 1880s.
That has resulted in the convergence of bond markets, of valuations in equities, and a lengthy period where volatility in both markets declined....