Groups advise to overweight UK financials and resources

uk

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Both Scottish Value Management (SVM) and Resolution Asset Management have been positioning their por...

Both Scottish Value Management (SVM) and Resolution Asset Management have been positioning their portfolios to be overweight the UK resource and financial sectors. The SVM UK Opportunities fund, managed by Neil Veitch and Margaret Lawson, has recently increased its overweight position in insurance broker, Jardine Lloyd Thompson. Veitch says: "The company has recently issued a warning over future profitability and has downgraded earnings by 20%. However, we feel the decline has been overdone and with a new chief executive for the company, there is no incentive to let overly optimistic nu...

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