Moore cautious on domestic market

Since taking over the fund in July, Moore said he has repositioned it away from housebuilders and mortgage banks and into defensive areas, such as oil and mining stocks. However, food retailers are one area where Moore currently has a bullish view, particularly given food price inflation. He said this will benefit supermarkets, such as Tesco, as well as food processing companies. “Higher food prices are not just a cyclical phenomenon and will be ongoing – as the global population increases and incomes rise, so will the demand for food,” he said. Turning to resources, Moore said he is...