Swip believes cult of equities is increasing

The believers in the cult of the UK equity are growing in number, according to Scottish Widows Inves...

The believers in the cult of the UK equity are growing in number, according to Scottish Widows Investment Partnership (Swip). 'From the 1970s on, equities were not a cult, they were a religion,' said Richard Dunbar, investment director at Swip. 'Then the pension funds went off to corporate bonds, life companies went to gilts, private clients to cash, so who was left?' He argued the fact Northern Rock's share price has doubled in the last three years, even though the business is in the difficult mortgage market, suggests not all is doom and gloom at company, if not at market level. He ...