Valuations have come down, but stock selectivity is still key in the UK growth market. Forsyth McGa...
Valuations have come down, but stock selectivity is still key in the UK growth market. Forsyth McGarrity, a director at Threadneedle and manager of the UK Growth fund, remains selective on growth stocks due to several earnings disappointments from companies, largely in the technology, media and telecom sectors. McGarrity says: "Although valuations have generally fallen, there is differentiation between stocks in the same sector. Logica, for example, is looking better than Telecity, the first quarterly result of which disappointed the market." As a consequence of this, McGarrity says he i...
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