Challenging times ahead as investing rules change

Markets have recovered from their recent lows, but investors will have to get used to a different er...

Markets have recovered from their recent lows, but investors will have to get used to a different era where old certainties about investing are constantly challenged, warned Stuart Fowler, head of UK equities at Axa Investment Management. "We are in a new low-return world and if it is a bull market it is very different to the one I grew up in. The FTSE is up 35% from its low and the persistency of the rise feels like a bull market. The heroes from the early days of the last bull market are back, so the shrewd operators clearly feel there is money to be made." But, he added, all the golden...