Fund managers 'increase personal stock exposure'

A survey of investment experts released by a UK bank yesterday has suggested that the bottom of the markets might already have been passed.

In all, 135 UK-based fund managers were quizzed on what they had in their personal portfolios by Lloyds TSB over the course of its research.

The bank found that 48 per cent had increased their stock market investments over the last six months.

This coincides with the strong recovery staged by the markets over recent weeks, following the lows of early March.

However, despite the recent increase, the London stock exchange’s flagship FTSE 100 index remains around 30 per cent below its 2007 highs.

Just over a third (36 per cent) of the managers said that they thought the markets had passed their lowest point.

Prabal Gupta at Lloyds TSB said: ’Unfortunately, nobody can foresee the future of the markets.

’However, individual investors might be encouraged by the fact that the UK’s fund management professionals - many of whom manage phenomenal amounts of money for private and institutional investors - are starting to see light at the end of the tunnel.’

Lloyds TSB also found that 56 per cent of the managers expect to ’profit quickly’ from their stock investments this year - due to the market upturn.ADNFCR-2318-ID-19188345-ADNFCR