By Bambos Hambi, head of multi-manager investment at Rothschild Asset Management While some glob...
By Bambos Hambi, head of multi-manager investment at Rothschild Asset Management While some global growth fund managers prefer cyclical stocks to pharmaceuticals in the short term, most continue to look to the sector's longer term demographic underpinning. Among those avoiding pharmaceuticals in the short term is Venkat Chidambaram, investment director of GAM's global investment team. Chidambaram has reduced exposure to the pharmaceutical sector from 16% in 2001 to 2%, favouring cyclical stocks in the light of an expected global economic recovery. He says: 'Over the next six...
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