218. There is hope yet for UK equities!
Rathbone UK Opportunities is a flexible fund targeting quality growth businesses. The manager looks to take advantage of cheap UK valuations, but avoids the ex-growth, large-cap dinosaurs. She combines structural winners with a strong core of high-quality compounders and the final portfolio consists of around 50 to 60 holdings, with a bias to medium-sized companies.
What’s covered in this episode:
- How growth stocks have performed in the past six months
- Whether the manager has made any changes to the portfolio following the political and economic upheaval in the UK
- Which stocks the manager has sold and why
- Why M&A activity has moved from snapping up vulnerable companies to buying trophy assets
- Why the manager favours medium-sized companies over larger ones
- Which company is benefitting from the rise in cyber attacks
- Why the manager has been testing the energy resilience of her companies
- Which real estate company has managed to lock-in cheaper energy prices from 2020
- The positives to be found amidst all the doom and gloom