Fidelity International banking highlights positive 2011 scenario

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Fidelity International banking highlights positive 2011 scenario

Wed 7th Jul 2010

There could be a profitable year awaiting investors in 2011, according to a finance expert from Fidelity International.

Trevor Greetham, director of asset allocation at the company, noted that a lot of individuals are worried there may be a double-dip recession.

However, he claimed that there is "spare capacity" in developed economies to stop this from happening.

In his view, there are likely to be some good buying opportunities over the next six months as the pace of economic recovery slows, but next year should offer a stronger performance.

"With inflation pressures muted, central banks can cut interest rates or print money if necessary. All this sets a positive scene for 2011," explained Mr Greetham.

Last month, Fidelity International banking published a report that showed just one in 131 taxpayers had to pay capital gains tax during 2009, with the company supporting an increase to this levy on those who aim to make short-term, speculative profits.

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