The recent relative strength of equity income funds is unlikely to continue - and given the more upbeat market the time looks right to go for total return funds
There has been considerable comment in the financial press in recent weeks about the extent of the rally in equity markets. In the US, the recovery has been going for a year, with a 30% plus rise in the broader indices. In the UK, the rally has been shorter, given the life office solvency induced selling pressures witnessed in the first quarter of this year, but we too have subsequently seen similar increases from the March lows. Given my own view last December that the FTSE 100 would initially trade lower towards the 3,200 level before recovering strongly to push towards 5,200, I am not ...
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