However, investors say a combination of significant value on offer from cheap British stocks, declining inflation and richly valued share prices elsewhere all mean the UK market is poised for a comeback.
Gervais Williams, head of equities at asset manager Premier Miton, said: “I’m more bullish now than I’ve been for 30 years.”
Patrick Thomson, European chief executive of JP Morgan Asset Management, told The Telegraph: “There are more opportunities in the UK.”
Stock markets in the US and elsewhere are “very fully valued”, he said. By contrast, British stocks are “probably not as fully valued,” meaning there is more scope for share prices to rise.
He added that the relative unpopularity of British stocks was also part of the appeal: “That for us as investors is an opportunity because it means that there is something that potentially people are missing.”
JP Morgan Asset Management…
