Mumford doubles holdings in Cavendish Opportunities

Paul Mumford, manager of the Cavendish Opportunities fund, has doubled the number of holdings and moved into small caps. The fund had previously been run as a concentrated portfolio of 30 stocks but, in light of the current market volatility, Mumford has increased the number of holdings to 60. He believes small caps are on more attractive valuations than large caps as pricing anomalies are more frequent as analysts focus more heavily on blue chips. He said: 'It is not a problem finding 60 holdings and several reserve stocks are waiting to come in. If I could not find enough stocks it me...