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F&C: Stock-pickers to benefit from volatility, European small caps to bounce back Current volatility is punishing managers who rely on the market to do most of their work. However today's market conditions are creating a steady supply of attractive opportunities for dedicated stock-pickers. According to Phil Doel, manager of the F&C UK Opportunities Fund, concerns over slowing growth rates both in the US and Europe, along with the disclosure of further sub-prime losses, have been translated into a healthy flow of interesting 'trading opportunities' for fund managers. He believes these opportunities will continue to emerge over the coming months…

… The F&C UK Opportunities Fund was launched at the end of 2005 to harness Doel's specific stock-picking talents. It is a 25-stock portfolio containing only the manager's best investment ideas which follows a similar fund he successfully ran at his previous employer, DWS Investments. A strict re-balancing discipline whenever a holding reaches either 5% or 3% ensures a constant reappraisal of the portfolio. There is no inherent style, size or thematic bias and stock-picking is not constrained by any benchmark.

The fund has managed to achieve a top quartile return since launch. "We would expect the performance of our portfolio to continue on an upward trend as the true value of robust bottom-up stock picking comes to the fore," he concluded.

European small caps to bounce back Smaller company sh......................

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