Nick Kirrage and Kevin Murphy, co-managers of the Schroder Recovery fund, tell Cherry Reynard why, if investing in a sector feels uncomfortable, they are probably doing something right.
It would be natural to assume that ‘recovery' funds would have done well in a climate of recovering equity markets. However, this has only rarely been the case, with ‘deep value' as a style still struggling to find favour. The Schroder Recovery fund has been the notable exception. The fund's handsome gains have been made in some ugly sectors. General retail has been the strongest contributor to performance over the past 12 months, including widely unloved names such as Dixons. Nick Kirrage, co-manager on the fund with Kevin Murphy, says: "Owning stocks in an environment where the consume...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
