Pearson Lund would go straight back into the market

Peter Pearson Lund, chief executive of Rathbones Unit Trust Management, says he would go "straight back into markets" now given the outlook for them, if he were not retiring from the City after 40 years at the end of this month.

He compares markets now to those of 1975. He had worked for private clients at Cazenove, and moved on to Antony Gibbs Investment Management when the FTSE fell 55% in 1974. It then rose 140% the following year. Pearson Lund leaves the financial industry after the UK market rose 21.3% in 2009 - but with memories of 2008’s drop of 32% fresh in investors’ minds. He says: “As a young chap in 1975, you looked at markets and thought 1974 had been so horrendous, it was a one way bet. If I was 25 again, it would be a great time to come back into the business, because it has it all going for it...