Mixed messages but managers agree to avoid financial sector

That the US market has been volatile recently is undeniable. Quite where it will go is more difficult to predict. "It's a very tricky time," says Simon Laing, manager of the Newton American fund. "I think you could make a good case for the market dipping as well as a good case for it going up. I think after the summer things should be a lot clearer." Fund managers across the board are being similarly wary. Like Laing, Greg Kerr, manager of the New Star US Opportunities fund, is avoiding cyclical companies in case of an economic slowdown and plumping for more stable stocks instead. Almos...