70: The best buying opportunity for 30 years

The stock market falls in February and March were so fast and so deep that Hugh Sergeant, manager of ES R&M UK Recovery fund, says this is the best opportunity to buy value stocks in his 30-year career – the key is simply to work out which companies can survive. In this podcast he tells us about new holdings he has bought including WH Smith, ASOS, Next and Autotrader, and reveals why he thinks UK smaller companies in particular are so unloved.
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As the name suggests, ES R&M UK Recovery fund invests in recovery stocks, where good businesses are currently experiencing below normal profit levels, which are depressing their valuations. If they have the capabilities to help themselves out of this predicament, manager Hugh Sergeant will take them onboard. He will look to add to his holdings at almost fire-sale prices in volatile times and will be patient with their turnaround.

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The views of the author and any people interviewed are their own and do not constitute financial advice. However the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Before you make any investment decision make sure you’re comfortable and fully understand the risks. If you invest in fund or trust make sure you know what specific risks they’re exposed to. Past performance is not a reliable guide to future returns. Remember all investments can fall in value as well as rise, so you could make a loss.

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