The U.K. may join Europe in recession next year as the region’s debt crisis weighs on growth, according to Neil Woodford, manager of Britain’s biggest equity fund, which is on course for its best year in a decade BusinessWeek reports.
“The outlook for the European economy has deteriorated quite significantly,” said Woodford, manager of the Invesco Perpetual High Income Fund, which has 11.1 billion pounds ($17.7 billion) in assets. “I do expect the euro zone to be in recession next year and the U.K. economy could well be following suit.”
Woodford, who manages about 20 billion pounds at Invesco, has been avoiding banks and buying defensive stocks…
Find out more at http://www.businessweek.com/news/2011-11-11/u-k-s-no-1-fund-manager-says-europe-britain-facing-recession.html
No comments:
Post a Comment