Corporate activity 'pointing to continued recovery'

13 August 2010 at 15:52

Corporate activity 'pointing to continued recovery' Improving corporate activity in the UK is pointing towards continued recovery in the financial services sector, one expert has suggested.

Gartmore's head of UK equities Leigh Himsworth said the level of corporate activity over 2010 supports the idea that the country is moving away from the recession and said fund managers are more optimistic about the strength of the recovery.

He explained that businesses investing for future growth through acquisitions and mergers are "probably feeling pretty positive" about their prospects.

"Many listed companies are actually in a relatively strong position balance sheet wise but may well have not invested significantly. Management thus find themselves faced with the dilemma - build or buy," Mr Himsworth said.

Recently, Chris Hamilton, a spokesman for the Financial Services Authority, issued a reminder that any fund manager hoping to achieve authorisation must ensure its systems and controls are proper before even attempting the application.

Posted by James Harrison ADNFCR-3006-ID-800024827-ADNFCR

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