Article: AUSTRALIAN FUND MANAGERS TIP INT'L EQUITIES COMEBACK FOR 2006.

SYDNEY, Dec 20 Asia Pulse - After a stellar three-year run by the Australian share market, local fund managers are tipping international equities to make a welcome resurgence in 2006.

But the outlook for local stocks is not so positive, with 48 per cent of fund managers believing the market to be fairly-valued and 46 per cent over-valued, according to Russell Investment Group's quarterly survey.

Just six per cent of fund managers said local shares were now under-valued compared to nine per cent the previous quarter, with the local equity market on the verge of posting its third consecutive year of double-digit returns.

Russell Asia Pacific ...

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