60 seconds on UK equity opportunities
Domestically-focused UK mid-cap stocks are a bright spot as the UK economy continues to hold up better than many expected, according to fund manager Jean Roche.
There has been a number of profit warnings in the UK mid-cap space in recent weeks.
The surprise is that companies with foreign earnings have been the ones to disappoint, as opposed to the domestic stocks which were hard-hit after the Brexit referendum.
Results from these domestic-facing stocks have actually come in line with, or even better than, consensus expectations. They now look well-priced now so we are taking opportunities where we can to invest in some of those or add to existing positions.
The UK consumer and UK economy in general are holding up better than many expected, so companies facing the UK are where we are looking to deploy additional capital at the moment.