New asset management company unveils first fund

Among the key investment themes is the expectation of a further depreciation in sterling. Henry Dixon, fund manager, noted the historic correlation between periods of sterling weakness and strong relative performance of the UK stock market. He sees the pound falling back to below $1.60, with the possibly of it overshooting much further and this is expected to benefit those sectors most exposed to overseas earnings, such as pharmaceuticals, aerospace, defence and mining. The fund is overweight these sectors and in industrial engineering. Dixon said: "We think we have a fund of partic...