Invesco Perpetual's Woodford calls bottom of the market

While the UK economy faces many challenges, such as the level of indebtedness, Woodford says market conditions in the UK and US appear to be reaching a floor. Woodford says: "I think we have seen a bottom in the market. However, one has to be very careful about specifics." Possibilities exist in the utilities, tobacco and pharmaceuticals sector to make money, says Woodford. As a result, he has been adding to his positions in AstraZeneca and GlaxoSmithKline as he believes there is significant value in the pharmaceutical sector. He has also purchased a position in energy company EDF. ...