Train sees fair value in UK equities

Yields on UK equities are beginning to look attractive, according to Finsbury Growth Trust manager N...

Yields on UK equities are beginning to look attractive, according to Finsbury Growth Trust manager Nick Train, while Framlington's Nigel Thomas sees no catalysts to turn the faltering UK equity market around. As of 2 January, the FTSE 100 was around the 3,940 mark, having fallen 4.9% in December. Colin McLean, managing director of SVM Asset Management, said every burst of optimism about interest rate cuts has been undermined by a steady drip of company profit warnings. He sees problems persisting through 2003. McLean said: 'Pension-funding problems will limit the appetite of many inst...