Woodford: 'good grounds' to believe market has bottomed

The manager's cautiously optimistic stance is driven by his view the sharp UK and global market falls late last year has already discounted the worst. Woodford believes there is "very good value" in a number of sectors, highlighting pharmaceuticals, utilities and tobacco. "Overall UK equity market indices are now lower than ten years ago and I think there are now good grounds for thinking the overall market has bottomed," he says. "The best value lies in companies that will be able to get through this difficult period for the economy with rising earnings, cashflow and dividends, and w...