Fidelity says that global equities continue to look attractive relative to most other asset classes.

The US-based fund manager says that the growth of e-commerce coupled with rapidly evolving demographic shifts offer exciting investment opportunities.  Fidelity Worldwide Investment believes there are compelling investment opportunities to be unearthed in global equities, despite looming sovereign debt issues and the uncertain economic backdrop.

Commenting on the outlook for global equities in 2013, Jeremy Podger, manager of Fidelity Global Special Situations, said: "Equity valuations appear increasingly attractive after another year of falling Government bond yields and tightening corporate bond spreads."

Amit Lodha, manager of FF Global Real Assets Securities Fund and Fidelity Global Focus, added: "We continue to see long-term growth opportunities in the global equity landscape resulting from the urbanisation and industrialisation of emerging markets as well as the opportunities presented by the growth of e-commerce, rapidly evolving demographic shifts and innovation aimed at increasing capital efficiency."

Despite this optimism, Podger and Lodha are concerned about the impact sovereign debt issues will have on economic growth. Podger says: "Whilst there are attractive investment opportunities in Europe, mostly among strong global companies, I would expect the prospect of selective sovereign debt restructuring to come back on the agenda sometime soon and for this to have a negative effect on European markets and financial stocks in particular."

Adrian Brass, manager of FF American Fund and Fidelity American Special Situations also urges caution about looming sovereign debt issues in the US. He said: "Beyond a resolution, the problem of US Government indebtedness will remain an acute problem and the need to raise taxes and cut spending is likely to hold back economic growth for years to come."

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Amit Lodha added: "In an environment where inflation is part of the solution, equities continue to look attractive relative to most other asset classes and equities backed by real assets, which cannot be printed on a printing press, even more so."

"From an investor's perspective, wealth generation and protection will be a function of finding companies that have either the pricing power or uniqueness of assets to grow earnings, cash flows and dividends in this environment."