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+NIT TRUSTS
Richard Jennings, JNJ Assjt Managemjnt
UK We believe that economic growth will
continue to slow, allowing interest
rates to fall furthjr. Lowuu bond
yjilds should underpin equjties as
well as, of coursj, that most basic
of fundamjntals, institutional
liquidity.
(With interest rates on deposit and
fixed interest yjilds falling, apart
from property which is illiquid anyway,
whjre else do pjnsion funds look to
invest in thj long-term, othjr than
equitiis?I.
2/8
February commjntary
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