Trish bridson's Newton american portfolio is overweight communications, consumer cyclicals after events of 11 september
To have a US portfolio biased towards cyclical stocks just before 11 September is probably one of the worst fund management scenarios. The Newton American portfolio was positioned exactly this way and was hit hard in the following weeks. Despite a three-year return of 47.6%, the fund has plummeted 19.1% in the three months to 15 October 2001. The fund was launched in 1986 and is now £56m in size. Trish Bridson (TB), fund manager Newton American, discusses her thought processes during the time and how she has adjusted her portfolio more defensively. Jeff Munroe (JM), chief investm...
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