RLAM's Cholwill wary of UK equity rally

The UK equity market rally may turn out to be a false dawn, says Royal London Asset Management's Mar...

The UK equity market rally may turn out to be a false dawn, says Royal London Asset Management's Martin Cholwill. The Equity Income Trust manager says although the UK stock market looks cheap, he is still wary of financially distressed companies. "Whilst the UK stock market is increasingly embracing the possibility of a global V-shaped economic recovery, I think the UK recovery could be much more muted as the economy is weaned off quantitative easing and unsustainably low interest rates," he says. "In my opinion it will turn out to be a false dawn once investors refocus on the long h...