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Survey reveals UK equity optimism

Over two-thirds of private client investment managers and stockbrokers believe there will be a further rally in UK equities within a year, according to a survey by Apcims and ComRes.

Sixty-six per cent of the individuals polled are expecting increased investment in UK equities over the next year.

Most of those surveyed also believe there will be a move away from cash and into corporate bonds over the same period.

Banks are named as one of the top three sectors for buying opportunities, along with oil and gas and pharmaceuticals. Only 4 per cent of those questioned feel the auto industry represents a buying opportunity.

Brewin Dolphin chief strategist and Apcims asset allocation committee chairman Mike Lenhoff says: “Bond and equity markets are reflecting a growing conviction that policymakers across the world will be successful with their efforts to reflate the global economy.

“Indeed, we may be going through the trough of the recession right now. That said, the prospect of recovery does not mean plain sailing ahead. There will be setbacks along the way and so it makes sense to maintain an appropriate degree of balance between bonds and equities in portfolios.”

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