Clive Beagles describes the past five years running a UK equity investment fund as ‘like running up a down escalator’ – very hard work. Yet he believes the down switch may have been turned off, potentially heralding a period of attractive returns from the UK stock market.
Beagles, joint manager of the £1.6 billion JO Hambro Capital Management UK Equity Income fund, says an intoxicating mix of factors bodes well for UK equities. These include lower inflation, interest rate cuts before the end of the year, an improving economy and a recognition among an increasing number of investors that UK equities represent good value for money.
‘For quite a while, life has been grim for UK fund managers and UK investors alike,’ he says, ‘but I sense that the mood music is…
