James Illsley of JPM UK Equity Core Fund suggests that 7,500 on the FTSE 100 says absolutely nothing about valuations – which are 20% below the long-term average on a cyclically adjusted price ratio – while the index still yields 4%.
Tineke Frikkee, manager of Smith & Williamson UK Equity Income Fund, is finding opportunities in areas affected by concerns over discretionary spending, as well as construction and outsourcing companies.
Elsewhere, Guy Walker, manager of UBS UK Equity Income Fund, and Margaret Lawson of SVM UK Growth Fund both favour banks.
Christopher Metcalfe of Newton UK Income Fund, Paul Spencer of Franklin UK Mid Cap Fund and Investec UK Equity Income Fund manager Blake Hutchins, also share their views.
