Barings backs US financials for 2001

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By Kira Nickerson Retailers and financials will be the beneficiaries of the falling interest rate...

By Kira Nickerson Retailers and financials will be the beneficiaries of the falling interest rate cycle, according to Christopher Lees, fund manager of the Baring American Growth Trust. Lees said the pessimism in the US market is overdone because with falling interest rates, history suggests that the market will appreciate 15% to 20% this year. As such he is positioning the portfolio of American Growth out of defensives and into cyclical growth stocks as the year progresses. He said: "We have positioned the portfolio to be ahead of the market so that as the market becomes mo...

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