Equity upturn seen as start of global bull phase

High-profile managers are convinced the recent equity upturn indicates global markets are entering t...

High-profile managers are convinced the recent equity upturn indicates global markets are entering the next bull phase, dismissing fears the 2009 spike is simply a bear rally. Schroders' Richard Buxton and Fidelity's Sanjeev Shah both called the bottom of the market last week, believing the worst of the downturn to have passed. Buxton, head of UK equities at Schroders, said despite the FTSE All Share surging around 30% from its March low, he believes valuations have only moved from "depressed to cheap". "We passed an important point at the end of March and I do not think we will revis...