Leading fund managers have hit back at Anthony Bolton’s assertion that the bull run could be at an end.
Speaking at the Securities and Investment Institute conference last week, Fidelity special sits fund manager Bolton predicted the end of the bull market in the next few months. But New Star UK growth fund manager Stephen Whittaker says: “Bolton has his view and I have mine. He is clearly a brilliant man but I just don’t agree with him. I forecast we would make double-digit returns at the start of the year and I stick by that. At the moment, I cannot see an end to the bull market as the global economy is still in growth mode. “I do not think that fund managers are good at predicting bull or bear markets as it is notoriously difficult.” Resolution’s Argonaut European alpha co-fund manager Barry Norris says: “He is making some very bearish assumptions. He is taking a rather extreme view on earnings and valuations but balance sheets are still very strong in Europe. “We expect to see increased volatility in an upward trend and could see the market going a lot higher yet so I don’t think it is the end of the bull market.”View more on these topicsNews
This week in Pensions
What a week for pensions. Not even pictures of John Prescott playing croquet in the garden of his grace and favour home could stop pensions stories from getting top billing in the papers last week.
Canada Life offers Best Doctors scheme to group IP clients
Canada Life Group Insurance is now offering its group income protection clients access to its ‘Best Doctors’ scheme. Best Doctors helps people who have been diagnosed with a serious medical condition by identifying the most appropriate specialists in that condition, who check the diagnosis and make treatment recommendations.Canada Life says scheme members and their families […]
Turkish delight
Turkey is set for bumper growth, with a new Banking Act in place and other legislation in the pipeline
FSA warns it will seek out loan rogues
The FSA has warned mortgage brokers that it is ready to get tough and use its enforcement regime to force rogue firms out of the market. Speaking at the Association of Mortgage Intermediaries’ annual dinner in London last week, FSA chairman Sir Callum McCarthy said it is vital to get tougher on the mortgage market […]
India rate cut – more to come?
Kunal Desai, Head of Indian Equities at Neptune Investment Management India’s stockmarket rallied this week following news that the central bank was cutting interest rates more aggressively than expected. Commenting on the rate cuts and what this means for India’s economic growth, Kunal Desai notes that there were two important details in the announcement that have […]
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Savers rush to top-up pensions amid Budget tinkering fears
Savers are rushing to top-up their pensions amid fears chancellor Philip Hammond will deliver a further cut to the annual allowance in this month’s Budget, Zurich says. Cash flowing into pensions on Zurich’s investment platform soared 98 per cent in September compared to the annual average, the firm has found. The value of one-off pension […]
Financial education creates five-fold return on investment, study finds
Every pound spent on financial education initiates can create more than £5 in social value, a new study finds. Research firm ERS examined the impact of “survival” money management workshops delivered to more than a thousand 16-25-year olds who were either not in work, full-time education or training, or had care responsibilities. They found that […]
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Tom Selby: New DB transfer rules under the microscope
Despite pressure to come down on the market like a ton of bricks, the FCA has taken a measured approach to improving standards Another week, another barrage of headlines about an FCA intervention on defined benefit pension transfers. The regulator’s latest missive focuses squarely on the standards and processes advisers employ when carrying out pension […]