Mike Felton, manager of the M&G UK Growth fund, looks back at an encouraging year for equities and explores what might be next in store for investors in the home market.
We have been advocating the case for UK equities for about a year now, suggesting a conspicuous shift in monetary policy would engender an improving domestic macro environment. We contended that early rhetoric from incoming governor Mark Carney signalled a more proactive stance from the Bank of England (BoE), shifting from a narrow focus on inflation to a broader growth agenda. This, we argued, would be achieved in part by the introduction of a new target measure of economic expansion, the aim being to persuade households and businesses, consumers and investors that interest rates wou...
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