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75% of IFAs sceptical of ‘green shoots recovery’

Three quarters of IFAs says recent stock market gains represent no more than a bear market rally, according to a survey from 1st- The Exchange.

The poll of 254 IFAs conducted last week also found that 71 per cent believe recent strong market performance has been driven by the reallocation of money into equities from other asset classes and not new money from private investors.

According to the e-commerce services provider, the findings disprove recent talk of a return to confidence amongst private investors with 76 per cent of IFAs surveyed indicating their clients remain cautious about their asset allocation.

Thirty nine per cent of IFAs do not expect a bull run in equities before Spring 2010 and a further 36 per cent do not envisage a bull market return for another 18 months. Only a quarter of the IFAs polled expected a recovery within the year.

1st – The Exchange propositions and business development director Paul Yates says: “The FTSE has risen to its highest level since mid January, yet it is clear from this survey that talk of the ‘green shoots of recovery’ is just hot air. With investors still nervous, there isn’t new money bolstering the market as many would hope but simply existing money being reallocated.”


Teahan leaves Schroders

John Teahan, lead manager of the £250m Schroder Income Maximiser fund, has left the group to “pursue opportunities outside the finance industry”.Thomas See, head of structured fund management at Schroders, has taken over the portfolio. See has supervised the fund since launch in 2005 and has worked at Schroders since 1998.Last month the fund was […]

Analysis: European economic outlook

The European Union economy is forecast to shrink by 4% this year, according to a report by the European Commission. The area is “in the midst of its deepest and most widespread recession in the post-war era”, the report says. “Almost all EU countries are severely hit by the worsening of the financial crisis, the […]

Adviser Fund Index: America first

Hopeful investors are starting to look for signs of green shoots in the American econ- omy and the rhetoric of recovery is being increasingly aired among politicians and some economists.


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