Britannic shifts to cyclical stance

Professional Adviser
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Britannic Asset Management has shifted the emphasis in its portfolios from defensive stocks to cycli...

Britannic Asset Management has shifted the emphasis in its portfolios from defensive stocks to cyclicals. The switch has been made across all regions that the group operates in and is based upon the belief the global economy will pick up in the second half of 2002. Andrea McNee, investment director in charge of Asia at Britannic, said: 'Defensives are looking very expensive at the moment. The aggressive monetary easing that we've seen since the World Trade Center attacks has made us feel more confident about the global economic outlook in 2002. The recession in the US is still likely to...

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