Lang predicts sideways market

Liontrust manager banking on a shift in emphasis from growth to dividends for the future

Liontrust UK fund manager Jeremy Lang forecasts the equity market will move sideways until at least 2010. Lang, manager of the Liontrust First Income and Liontrust First Growth portfolios, believes there has been a concrete shift in emphasis from growth to dividends for the first time since the 1970s. He said: "My overall view is the market will be largely neutral until 2010. This is because there are still excess values that need to be shaken out. "The yield the market is offering is not attractive. The risk is too expensive for the reward, especially when you can get returns of more th...