Woodford believes 'green shoots' signs are deceptive

Invesco Perpetual's Neil Woodford believes the UK economy will not see any recovery for the next three to four years and the ‘green shoots' are starting to look illusory.

Woodford is positive about the outlook for his portfolios however, as he feels some areas of the equity market remain fundamentally undervalued. “Encouragingly, the companies that are best equipped to deal with a protracted period of little or no growth in the economy are currently the cheapest in the market and these are the areas in which I am heavily invested. This is why I am positive about the outlook for my portfolios despite the poor economic backdrop.” Woodford is focusing on companies with solid balance sheets and business models not geared to fluctuations in economic perform...