Abhinav Shresth
Macroeconomics

Which European country should a new equity fund target?

Business memo · Mar 2026

Recommendation: Portugal as the primary allocation, Sweden as a secondary complement.

The prompt

Scenario: you run a small, actively managed mutual fund focused on US equities and want to launch a new fund concentrated in just one or two European countries, rather than a broad pan-European fund. Using four lenses — stock market performance, interest rates, taxes, and government debt — recommend the country (or countries) the fund should target.

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