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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FSCS to pay back 2,700 clients of collapsed DFM Beaufort
The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Profile: Fiducia on really knowing your clients
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
FCA warns over advisers giving ‘inadequate information’ to DB transfer specialists
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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