View more on these topics

Woodford says UK is running out of steam

Invesco Perpetual star fund manager Neil Woodford warns that UK economic growth is set to slow due to slower consumption growth and higher interest rates in 2007.

Woodford, who manages income and high-income funds, says corporate profits will be hit by persistently high inflation and over-indebted consumers.

He says the run-up to Christmas does not bode well in terms of consumer confidence and says early indications are that financially constrained consumers will slow consumption.

He says it is hard to see the UK equity making significant headway after a strong 2006.

His funds have remained largely unchanged but have featured an increased weighting in mega-cap stocks, which he says look undervalued.

Woodford says: “We believe that returns will likely come from an increasingly narrow group of stocks where valuations are very appealing, although we acknowledge there are increasing pockets of danger in the market as well.”


Date with destiny

Why wrap and profitability are the two main drivers for the IFA sector.

Out of Context for 2006

“I didn’t get my James Bond physique by eating a second chocolate after the meal.”Norwich Union PR guru Dave Gwyer impresses his dining companions“I am absolutely ravishing.”Skandia PR Alex Jones struggles to find the right word to say he is hungry “The only thing that I’m wearing that is not from Oxfam are my knickers […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.


News and expert analysis straight to your inbox

Sign up


    Leave a comment