One of the country’s highest-profile stockpickers, Regal Partners’ Phil King, has told his firm’s staff that he expects the market slump is almost done and will not turn into a more serious downturn as some of his peers believe.
In a note to clients summarising the investment meeting, Regal’s Charlie Aiken said King, whose firm managed some $18 billion at the start of the year, had told staff that the sell-off was “a textbook market correction”.
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Sarah Jones is the Financial Review’s markets editor based in the Sydney newsroom. She has covered financial markets, economics and asset management for more than two decades including 12 years for Bloomberg in London. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
