Anglo Overseas claims the worst of the economic crisis has passed
INVESTMENT trust Anglo Overseas Trust yesterday injected a note of optimism into the market as it claimed the economic recovery was already underway.
The trust’s net asset value per share rose 7.2 per cent to 92.35p over the three months to the end of April.
“The economic outlook appears more stable and it is probable that the worst of the financial crisis is now behind us,” the company said in a statement, adding that investors were becoming increasingly willing to refinance troubled businesses.
But it does not expect a rapid recovery, given the rising unemployment rate and the fact that many consumers remain “under saved, under pensioned and over indebted”.