Actuaries deciding market levels rather than managers

Actuaries rather than fund managers are deciding the UK market's level, according to Trevor Green, director at Allianz Dresdner. The current bearish market conditions are being driven by life companies making forced share sales to meet solvency requirements, he said. If managers focus on this short-term environment they will miss out on the chance to buy companies cheap, he warned. Many investors are taking too much notice of short term indicators, he argued. Green said: 'Too much attention is paid to trading statements and broker recommendations, there is a need to look on much more...