22nd June 2009
Confidence for banks and UK equities as APCIMS/ComRes launch poll
The future of the UK equities market is likely to look rosier a new poll of private client investment managers and stockbrokers observes.
66% of the individuals from polled firms are expecting increased investment in UK equities over the next 12 months according to the findings. 72% believed there would be a further rally in UK equities within a year and around half of that 72% believed the rally will continue over the next six months.
The poll suggests the industry also believes that there will be a movement from cash into corporate bonds over the same period. The poll observes that 58% believed there would be a reduction in cash and the majority of respondents believed that investment in corporate bonds will increase during a 12 month period.
A substantial group of the individuals surveyed believed banks to be in one of the top three sectors for buy opportunities topped only by oil and gas and pharmaceuticals. This compared with only 4% who believed that the automobile industry was a current buy opportunity.
David Bennett, CEO of APCIMS said:
“We are delighted to be working with one of the leading pollsters in the country, a partnership which will undoubtedly produce important results for anyone following investment.
The APCIMS/ComRes poll should in no way be interpreted as investment advice. It is a new indicator of how the individual private investor industry is thinking across the country, with senior managers from Inverness to the Channel Islands participating.
The results of this first poll should be a welcome shot in the arm for the UK equities market".
Andrew Hawkins CEO of ComRes said:
"The APCIMS/ComRes poll should become a significant bellwether for UK markets. This significant sample of a vital national industry indicates important trends which should be of real interest to the financial markets. We look forward to plotting trends in the quarterly surveys we have planned over the years ahead”
Mike Lenhoff, Brewin Dolphin Chief Strategist and Chairman of the APCIMS Asset Allocation Committee said:
"Bond and equity markets are reflecting a growing conviction that policy makers the world over will be successful with their efforts to reflate the global economy. Indeed, we may be going through the trough of the recession right now. That said, the prospect of recovery does not mean plain sailing ahead. Inevitably there will be set backs along the way and so it makes sense to maintain an appropriate degree of balance between bonds and equities in portfolios.”
Viscount Tamworth, MD of Ruffer LLP and director of APCIMS, said:
"These results are very encouraging for the UK equities market. However, these are still uncertain and volatile times and investors need to exercise caution when making investment decisions. It is also important that this confidence is not adversely affected by government and regulatory actions burdening our industry sector with inappropriate and ill-considered regulation."
- ENDS -
For more information please contact:
Dirk Paterson, Head of Communications, APCIMS
on 020 7448 7100
Mobile: 07944 866 286
Email: dirkp@apcims.co.uk
Notes to editors:
APCIMS is not authorised under the Financial Services and Markets Act 2000 to provide investment advice. The content of this document should not be construed as investment advice. The content is based upon information we consider to be reliable but we do not represent that it is accurate or complete and it should not be relied upon as such. Before taking any investment action individuals are advised to consult an authorised investment adviser
APCIMS/ComRes Private Client Investment Poll
- 149 individuals took part online in the poll of private client investment managers and stockbrokers
- Fieldwork was conducted between 29th April and 25th May 2009. ComRes is a member of the British Polling Council and abides by its rules. Full tables at www.comres.co.uk
- A range of senior individuals were represented including senior management of the industry
- The poll will be conducted quarterly and will track market trends from a private client perspective and a range of other regulatory and political matters
APCIMS
- More than 12 million people in the UK currently invest directly in stocks and shares and other financial instruments to secure their financial futures
- APCIMS represents over 140 firms all over the UK who deal primarily in stocks and shares on behalf of individuals and the institutions in which we have our money
- Around £400 billion of the country’s wealth is under the management of our members
- Our aim is to ensure that the regulatory, tax and other changes across Europe minimize impact on the investment community
- We want to lead the debate on regulation in Europe, with UK regulators and with British parliamentarians to make sure consumers are protected while at the same time our industry flourishes in the UK
ComRes
- ComRes is one of the leading polling and research consultancies serving clients in the UK, Europe and Asia
- It has the most extensive range of political research tools ever created, as well as the full breadth of quantitative and qualitative research facilities.
- ComRes works with many leading blue-chip corporations, campaign groups, political parties, public sector bodies and trade bodies. We also poll for media clients ranging from The Independent to the BBC.
- ComRes is a CarbonZero company and a member of the British Polling Council and Association for Qualitative Research.