Market rallies make us nervous, fund manager admits
Tuesday 12 March 2013
Katherine Garrett-Cox warned that the FTSE 100 faces "significant roadblocks" over the next few months as her company posted its strongest start to a year for two decades.
The chief executive of Alliance Trust, which manages £2.4bn for investors, said headwinds threatened to throw the market off course despite its impressive start to the year.
"I think we all get a bit nervous when the markets rally," she said. "The issues that have dogged the markets and the economic data over the last three to four years have not gone away; European governments have not fully resolved the eurozone issue, nor has the US properly addressed the debt ceiling."
Alliance Trust raised its full-year dividend by 7 per cent to 9.63p as it reported total shareholder returns of 12.4 per cent last year.
Ms Garrett-Cox said she was confident she had seen off the shareholder revolts that have dogged recent AGMs.
"That is all very time consuming," she added. "Things seem to have gone quiet, which can only be a good thing because it allows us to focus on investments at a time when company valuations are so attractive."
Diving in at the deep end is no excuse for shirking the style stakes
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: The terrible price Palestinian children are paying for Israel’s war with Hamas
Rotten egg smell could help battle heart disease and Alzheimer's
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...
£40000 per annum: Harrington Starr: Network Engineer (CCNA, CCNP, Linux, OSPF,...