Healthcare remains strong as consumer spending drops

US managers have been hedging their bets against an economic slowdown and have positioned their portfolios to be in defensive stocks. Both the Ashburton Americas fund and the JO Hambro Capital US Opportunities fund are overweight healthcare as this sector will be less affected if consumers stop spending. Nick Skiming, fund manager of the Ashburton Americas fund, says: "These types of companies, such as health benefit group Wellpoint and eye care company Alcon, have consistent earnings. People feel it is important to have healthcare and will spend money on these products regardless of ec...