UK - Deutsche Asset Management, the second largest manager of European pension fund assets, says the current bear market could last up to 10-15 years.

Karl Sternberg, Deutsche AM's chief investment officer for Europe and Asia, said: "There have been three investment regimes since the Second World War. We believe we are now in a fourth - a bear market that could continue for many years.”

The bank said in a statement that it predicts a 10-15 bear market. Deutsche Asset Management UK is set to unveil proposals that will maximise returns for its UK institutional clients at a conference tomorrow.

Sternberg said that the bank would unveil new proposals "which will aim at ensuring that people who rely on the return on these investments can enjoy the best possible income in the years ahead".

Deutsche Asset Management manages around 92.5 billion dollars in European pension assets and a total of 726 billion euros of assets. The "Alpha in a Cold Climate" conference takes place tomorrow in London and will also feature DeAM's views on corporate governance following the Higgs Review.