A neutral investment style is the key to outperformance in any market, according to Glen Pratt, mana...
A neutral investment style is the key to outperformance in any market, according to Glen Pratt, manager of the £115.6m Fidelity Recovery Fund. Pratt, manager of the Recovery unit trust since October 1998, said: "In my view, any thematic approach to stock selection can be flawed and runs substantial risk over certain periods of time." He said the trouble with taking a sector or thematic approach is the fund is exposed to factors out of the fund manager's control. The advantage of not adop-ting a particular style means that regardless of whether interest rates fall or rise, or the strengt...
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