UK bank bailout not 'silver bullet', says Rathbones' Chillingworth

The UK's government's bailout package for banks will not single-handedly rescue the flagging economy,...

The UK’s government’s bailout package for banks will not single-handedly rescue the flagging economy, according to Rathbones CIO Julian Chillingworth. “These are extraordinary measures in extraordinary times, but no single measure presents a silver bullet. Markets will have to be patient. The point of maximum opportunity is usually when investors are at their most despondent. For UK investors, this point is now most likely in 2009,” he said. Chillingworth said he has maintained defensive positioning on his Income & Growth fund through both investment process and stock analysis. Meanwhi...