By Leo Bland M&G's European growth fund has moved underweight financials due to the perceived incre...
By Leo Bland M&G's European growth fund has moved underweight financials due to the perceived increase in competition from the internet. At the same time the 54 stock portfolio has moved overweight media. M&G European, which is managed by Susan Smith, looks to focus on companies with strong growth prospects where a firm's advantages are not fully recognised by the market. The fund is benchmarked against the FT Europe ex-UK index. Smith is not keen on financials as she believes the bank margins are being eroded by new entrants. She favours media companies as their products are taking u...
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