Neptune European fund looks to defensive large caps

Manager Rob Burnett says the fund has undergone a “big transition” since Q1 this year by shifting more of the fund into large cap opportunities. Burnett says the fund has moved away from cyclical stocks, an area it had invested heavily in previously, to stocks such as consumer staples and pharmaceuticals. He is happy to stick with this approach despite the Neptune European Opportunities fund taking a two-week hit following the recent US rate cuts, as investors clamoured back into energy and industrials. “Cyclicals have been fantastic for three or four years, but it is time to move on,” B...