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Karen Robertson, manager of Standard Life Investments UK Equity High Income UK equity valuations re...

Karen Robertson, manager of Standard Life Investments UK Equity High Income UK equity valuations reflect the possibility of severe earnings downgrades, the ongoing credit crisis, slowing consumer demand and falling house prices. UK earnings expectations have been heavily downgraded over the past several months, falling to single digits after the surging growth of the last few years. The equity income sector has been hit particularly hard by downgrades and the high-yield index has underperformed the wider market over the last year. High-yield equity sectors all suffered while lower d...