Fleming Mercantile has avoided being caught out by the recent sell off in technology stocks after bu...
Fleming Mercantile has avoided being caught out by the recent sell off in technology stocks after building up a position in old economy stocks . Martin Hudson, manager of the £850m trust, sold out of many mid cap technology holdings when they were elevated to the FTSE 100 in March. In total £100m of stock was sold in Baltimore Technologies, Psion, Celltech, Freeserve, Nycomed Amersham, Thus and EMAP. The majority of the money was recycled into the stocks relegated back to the FTSE 250 index. Purchases included Powergen, Scottish & Newcastle, Whitbread and Allied Lyons. Hudson said that he...
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