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UK strongest growth in 2003 says Invesco Perpetual

The best investment performance in 2003 will come from the UK, with returns of 7 to 10 per cent expected over the next 12 months according to Invesco Perpetual chief investment officer Bob Yerbury.

In a statement outlining his views for 2003, Yerbury says UK interest rates are the lowest in 40 years and valuations for UK and European stocks are looking quite cheap.

He says Europe causes concern, especially Germany while the US will likely offer a small degree of growth. Asia on the other hand will be hampered by the threat of deflation and slow exports with Japan likely entering a renewed recession.

Yerbury says: “We expect the UK to be the strongest market in 2003 and that consumer spending will continue. We expect the manufacturing sector to continue to find it difficult in 2003, with the best performance coming from the biotech, telecoms and construction sectors.”



“No. I don&#39t really care, to be honest.”Craig Richardson, Falkirk Independent Financial Consultants “I don&#39t know. I am a fellow of the LIA. No doubt they will be suggesting that we all merge in the future.”Owen Taylor, F&BI Financial Advisers “Yes. It would seem to make sense as both are trying to do the same […]

CML sad to see Davies go

On the departure of Howard Davies from the FSA next September the Council of Mortgage Lenders communications manager Bernard Clarke says: “Howard Davies has helped the FSA to steer a proper course in implementing the Treasury&#39s proposals for the statutory regulation of the mortgage market. “He has reinforced his reputation as a witty and entertaining […]

Revenue disallows goal

Over the past few weeks, I have been looking at employee benefit trusts, how they work, how the rules operate and, in particular, how the Inland Revenue appears to be less than happy with them. If confirmation that this was true was needed, we got it in the shape of:•The (unsuccessful) Inland Revenue arguments in […]

Who will follow in Howard&#39s way?

It looks like it is not only IFAs who had a tough year in 2002. Unlike Sir Howard Davies, however, they don&#39t have the option of bowing out of the industry for a job in academia.It may come as a surprise to IFAs that the FSA chairman and chief executive, long believed to be a […]


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