As the nervousness surrounding financials continues, PSigma Income fund manager Bill Mott is bucking the trend and increasing his stake in the sector.
Mott says this end of the market offers “outstandingly good value”, and just weeks after upping the fund’s weighting in banks to 22%, he has increased it further to 25%. It takes the fund’s total level in financials to 35%. Amid the volatility, Mott says he can’t remember ever being so active over a four-week period. He says his belief in emerging markets and long-term global growth meant the fund performed well in the period. “We maintained our discipline and set some fixed ‘buying price targets’ for some of our favoured mid-cap stocks which articulated this theme,” he says. “This resu...
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