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West Midlands professionals upbeat on economy

ONE of the UK’s leading investment specialists has told an audience of senior professionals in Birmingham there is cause to be cautiously optimistic about the economic outlook.

Duncan Gwyther, the Chief Investment Officer for one of the country’s largest independent asset managers, Quilter Cheviot Investment Management, told more than 70 financial professionals that the signs point towards modest UK and global recovery over the next year.

The audience of financial advisers, accountants and lawyers gathered in the city for an annual investment insight seminar organised by Quilter Cheviot’s Birmingham office.

Mr Gwyther, who has overall responsibility for some £15 billion of funds under management at Quilter Cheviot, advised his audience that the UK is recovering faster than expected and that Europe is re-emerging from recession slightly ahead of schedule.

He added that price-earnings ratios suggested there is still room for market improvement and that he is favouring equities for investment rather than bonds.

Mr Gwyther has had overall responsibility for Quilter Cheviot’s investment strategy since 1998 and is lead investment manager for the company’s institutional clients. He is also chairman of the FTSE APCIMS private investor indices committee.

David Jupp, Executive Director at Quilter Cheviot’s Bennett’s Hill office in Birmingham, says there are increased signs of confidence in the economy amongst financial professionals from across the West Midlands.

“The UK economy is recovering at a faster than expected rate and our colleagues in the financial services sector here in the West Midlands are all reporting an upturn in confidence.

“What’s interesting is the purchasing managers’ index is looking favourable, which indicates a positive outlook for the manufacturing sector. There is also growing confidence in a recovery in the housing sector.

“Our colleagues who are independent financial advisors agree that there is, for the first time in five years, a genuine sense of optimism in the West Midlands about the economic outlook.

“Interest rates look set to remain low for the foreseeable future, inflation is under control and continued growth in the States and here in the UK is giving momentum to the upturn.”

Quilter Cheviot, which came into being earlier this year when investment firms Quilter and Cheviot merged, is one of the largest independently owned providers of bespoke investment management in the UK, with £15bn* of assets under management and 176 investment managers in offices across the country.

Quilter Cheviot focuses on the structure and management of bespoke portfolios for private clients, professional intermediaries, charities, trusts and pension funds through its Defaqto 5-star rated Discretionary Portfolio Service. The Defaqto 5-star rated Managed Portfolio Service and award-winning Libero Funds will also be a key part of the company’s offering.

This was posted in Bdaily's Members' News section by Jonathan Brown .