majority of advisers expect UK market to be higher in six months' time
The majority of intermediaries expect the UK stock market to be higher in six months' time, while less than 10% think this outcome is unlikely.
This optimistic outlook was revealed by an online survey of 152 intermediaries conducted by Investment Week's parent company Incisive Media on 18 August. It showed 48% of respondents thought it likely the UK market would be higher after six months, while 39% thought it very likely.
Only 6% thought a UK market rise was unlikely, while 1% thought it very unlikely, and 7% of respondents were equivocal.
When asked which regions they expected to decline within the next six months, Europe scored the highest proportion of nominations at 24%, while the US, emerging markets and Japan all scored 15%. Only 3% expected the UK market to be lower in six months.
The survey also found 54% of intermediaries still believe there is a future for with-profits, while only 24% felt they have no future, and 16% are undecided. Written responses included remarks that with-profits will never again be as popular as in the past and funds need to be more transparent if they are to survive.
In addition, 68% of respondents believed fund managers should make active use of cash in their portfolios in volatile markets, while only 16% were against such measures and 15% were undecided.
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