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.”
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.
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