Why Henderson's Bennett is the most cautious for six years

Equities already entered a bear market

Henderson's John Bennett has removed gearing on the £231m European Focus trust, warning many global sectors have already entered a recession.

Known for his bearish views, the manager said he struggles to see European equities finishing the year in positive territory as a difficult January has already "set the tone" for 2016. He said: "Growth is scarce - and, in my view, getting scarcer. I think we have already entered a global recession in a number of sectors and, more broadly, in international trade. "My outlook is the most cautious it has been for six years. I have been saying for some time that we are in a bear market, one that had its roots in the spring of 2015 and is now rolling through the market, from emerging marke...