Gam manager says worst is over for US equity markets

The US equity market has already hit rock bottom and the economy will not deteriorate any further, ac...

The US equity market has already hit rock bottom and the economy will not deteriorate any further, according to Jeff Coons, manager of the Gam Star US All Cap Equity fund. He said: “There is no reason for the US equity market to go any lower than it did at the end of March. The economy will be slow and difficult from now on but it is not deteriorating.” Coons works for US firm Manning & Napier Advisors, to whom the management of the $247m Gam vehicle is outsourced. His team does not believe there is currently a bear market in the US following the crisis in the housing market and banking ...