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F&C predicting US-led surge in equities next year

The USA will drive global economic recovery in equity markets with a rebound in 2002, according to Foreign & Colonial&#39s chief investment officer.

F&C Management group chief investment officer Dr Arnab Banerji is predicting a quick recovery in the middle of next year, and that cash will out-perform government bonds in 2002.

Banerji says: “The United States, Europe and Japan are all in recession or facing recession. Despite this gloomy picture, the global economy will be out of the doldrums by the second half of next year. F&C believes that a combination of interest rate cuts and fiscal stimuli will drive this recovery and furthermore we think that recovery will be led by the USA. There have only been three bear markets significantly worse in the last 100 years versus the downturn between March 2000 and September 2001.”


FSA probing &#39secret&#39 deal on Equitable reinsurance

Former Equitable chief exec-utive Chris Headdon is under investigation by the FSA over a secret deal struck with Equ-itable&#39s reinsurers that compromised the £700m contract used to help meet its solvency requirements in 1999.The investigation could be passed to the Serious Fraud Office but it is not involved at present.The FSA this week rev-ealed the […]

AMP merges brands into one group

IFAs can now get access to AMP&#39s range of NPI, Pearl and London Life products following a merger of its brands into a single marketing group.AMP&#39s product stable has been cut across the group from 189 to 44 by removing duplicated products but products from the separate divisions are being opened up to each distribution […]

Lord Hunt calls on FSA to relax regulatory burden

IFAs are forced to spend too much time dealing with regulatory requirements and the multitude of industry reviews is threatening to drive them out of existence, said Lord Hunt of Wirral last week.In a speech to the House of Lords, Aifa chairman Hunt told peers that independent advice is crucial to convincing people to save […]


Do you believe that there will be an Isa season this tax year?“No. Everyone is so nervous about investing in any sort of equity at the moment.”John Fitt,Financial Matters“Yes, there always has been and there always will be. If people have got a good investment adviser, then they will take out their Isas while the […]


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