Rally does not signify imminent bull market

Woodford and Collins concur over market downside risks

The latest UK equity rally should not be seen as a sign the global markets are returning to a bull phase, according to Invesco Perpetual's Neil Woodford. In a conference call for advisers, the Invesco Perpetual Income and High Income fund manager believes while the market has embraced the concept of a V-shaped recovery, he urges caution on the consensus view. "Earlier in the year, when the market was at a very low level, I felt there was little downside in the market. "I felt there was a lot of opportunity in the sort of shares (I like), but it was hard to argue there was significant ...