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Article: Fund managers lose faith in stock market
- Article from:
- The Sunday Telegraph London
- Article date:
- August 3, 2003
- Author:
CopyrightCopyright 2003 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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BRITAIN'S top-rated fund managers' confidence in prospects for the
UK stock market has fallen to its lowest level for five months,
according to a new survey.
The research, carried out by Citywire, the financial publishing
and data group, reveals just 8 per cent of fund managers are
predicting double-digit returns in the next 12 months. In contrast,
25 per cent of fund managers predicted these higher gains a month
before.
The dramatic fall in confidence comes after a recent bout of
profit taking by investors, which has led the FTSE100 to slip from
around 4,200 in mid-June to below 4,000 in July. The index has since
rallied; it closed at 4,098 on Friday.
The Citywire Stock Market Confidence ...