Managed funds are increasing their UK equity weightings on the back of resurgence in old economy sto...
Managed funds are increasing their UK equity weightings on the back of resurgence in old economy stocks, according to Robert Burdett of Rothschild Asset Management. Suzanne Rogers, fund manager for the Newton Balanced Fund, agrees: "We are currently underweight in the UK but have increased our position substantially this year. We have bought a lot of old economy stocks that have not done well lately." The purchases, including paper stock DS Smith, Hanson in building materials, and Shell and BP Amoco in oils, reflect a belief that much of the market is factoring in a recessionary outlook b...
To continue reading this article...
Join Professional Adviser for free
- 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