Fidelity's Shah: Now is best time to buy shares since 2009

Fidelity's Sanjeev Shah, manager of the group's £2.7bn Special Situations fund, said UK share prices look their most attractive for two years following the sell-off in markets.

Shah, who took over the portfolio from Anthony Bolton in 2008, said shares are trading at historically low multiples of earnings, while also offering attractive dividend yields. As such, he said the market today looks as attractive as 2009, when shares rallied off lows by as much as 70% over the next year and a half. Although this time around the sell-off is nowhere as severe, Shah said markets were nonetheless throwing up a number of opportunities. "The fall in share prices has shaken investor confidence this summer but, for an investor who likes to go against the flow, this repre...