A market correction would now be appreciated by fund manager David Winters, whose Franklin Mutual Shares Fund OEIC is currently sitting on 26% cash.
This high level of cash is the result of the fund not finding enough distressed or undervalued stocks in the market that meet its objectives of generating returns at relatively low risk rates. "My bacon is frying with the shareholders' bacon," Winters says of his slightly cautious outlook. Examples of stocks Winters already has in the portfolio are Berkshire Hathaway – itself run by the ‘Sage of Omaha’ Warren Buffet - insurer White Mountains, Newport Mining, BAT, AngloAmerican ("a compound money machine") and Nestle. The sort of Asian plays he looks to include Samsung Electronics, ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes