GLOBAL - Confidence in the US equity market is at an all-time low, Threadneedle Investments claims.
It points out that problems at Enron, Tyco, Global Crossing and now WorldCom have created uncertainty with last year’s figures now being restated – the first time this has ever been done.
Threadneedle’s head of global strategy Colin Robertson said: “Normally the focus is on earnings growth, but this year it’s all about ‘forecasting’ last year’s figures. Investors are worried that earnings figures so far given are false and the true numbers are lower than what they are using.”
Pictet Asset Management is advising clients to remain cautious about the US market, despite investor optimism.
It said: “Indicators suggest [equity investors] continue to expect stock markets to rise significantly before the year is out.
“But history shows that the time to buy equities is when investors have a pessimistic view of future returns. This is not the case today.”
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.