Rees targets defensives

Although confident a recovery in investor sentiment will lead to a blue chip rally in the second half of the year, Premier Global 100 manager, Ian Rees, has broadened the fund's mandate in search of defensive stocks. Rees said global leaders will lead the market up when sentiment recovers in the same way they led the market down amid concerns over the accounting practices of such mega-caps as Enron and WorldCom. Although he believes the case for the globalisation theme remains sound, he has widened his mandate to look at the 120 largest stocks in the short-term, in the search for more ...