Funds Hub

Money managers under the microscope

Something mushy this way comes…

August 3, 2010

Predictions for the next wrinkle in a positively rutted few years for markets tend to have us either skipping merrily into a bold new future or slumping into the despondency of another punishing economic winter.

Blame the journalists if you like. There are some whose blood is decidedly up when more excitable commentators offer views which send economies (and/or house prices for that matter) hurtling thrillingly to one extremity or the other.

Of course, there are a (quieter) majority in the middle who take a less enticing line.

Royal London Asset Management CIO Robert Talbut puts it nicely in an interview with our funds correspondent Claire Milhench.

The hobbyist pilot reveals that less-than-perfect eyesight cost him his boyhood ambition of a life of extravagant facial hair in the RAF, but points out that some of the skills are transferable.

“One of the most important parts of the pilot’s test is to be able to land safely when the engine cuts out,” he says.

He warns though against those fearing similar dire prospects for markets, reckoning that one of the biggest dangers for investors is the way people frame the economic outlook debate as a strong recovery versus a double dip.

“I think we’ll get something mushy in between,” he says, comfortingly. “The outlook is very unexciting.”

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