Credit crunch to continue through '08 - fund managers

When polled between November 22 and December 5, 70pc of respondents said they believed the squeeze would last longer than six months. Moreover, a majority foresaw a further deterioration in credit conditions in the first half. A quarter (24pc) said the likelihood of further deterioration was high, while two-thirds (65pc) said it was medium. In the survey described as "one of the gloomiest ever" in its 18 years history, further evidence of the impact of the credit squeeze was evident from the survey-record proportion of respondents (24pc) saying that their ability to raise funds would be...