Equities look cheap on long-term basis - Henderson

Job Curtis, fund manger of The City of London Investment Trust at Henderson, says there are reasons to be positive about the equity market. Commodity prices have started to come off and alternative assets such as bonds make equities look cheap on a longer-term basis, he says. Curtis believes there will be significant deflationary pressure in UK domestic stocks, especially those exposed to UK consumer spending, but says stocks with international exposure will fare better. “Our portfolio companies earn more than half of their profits outside the UK and with sterling weakening against the...