US managers confident worst is now over

Top-performing US managers believe the region is now emerging from recession but are not expecting the typical post-downturn growth explosion

US managers are optimistic the market's worst times are past and a recovery from the recession has already begun. Although some said the recent rebound could mean an imminent pause for breath in the economy, most believe the worst effects of the sub-prime crisis are behind us. However, the rapid growth that typically follows an economy coming out of recession is unlikely to occur, according to Threadneedle's Cormac Weldon. "The level of indebtedness on the consumer and the housing crisis overhang will curb the growth," he said. "We think equities are cheap and the market could retur...