GLG's new hire Dixon: FTSE 100 still offers double-digit upside

GLG's new hire Henry Dixon has said the FTSE 100 still offers investors more than 10% upside from here, despite the impressive rally it has already seen.

Dixon (pictured), who has joined GLG to run a mirror version of his successful FP Matterley Undervalued Assets fund, analyses the upside and downside risk for all stocks before he invests, using a strategy that covers retained cashflow, as well as other factors including rights issues. Converting the analysis into index points, the process gives the manager an indication of where the market's overall valuation is compared to history. Speaking on Monday after the FTSE 100 closed the previous Friday at 6,651, Dixon said currently the process is suggesting a downside floor of around 6,20...