RWC's Corcell: 'Trendless' US market needs rate clarity

Beating the US market will remain a challenge for active managers until the Federal Reserve's policy on interest rates is clear, according to RWC's Mike Corcell, manager of the long/short US Absolute Alpha fund.

Last week, the Federal Reserve signalled rate rises could be slower than markets anticipate, after the latest meeting of the Federal Open Market Committee.  Analysts had previously forecast the first rise could come in September this year, but there is still a lack of clarity over timing as the Fed worries about the fragility of improvements in US employment and wage growth. How can the Fed solve the interest rate conundrum?  Corcell, a former Threadneedle manager, said although the economy is "bumping along" and corporate profit margins are "robust", this uncertainty on monetar...