Top stockpicker moves overweight Europe in R&M Recovery fund

Hugh Sergeant, manager of the River and Mercantile World Recovery fund and the group's top performing UK Equity Long Term Recovery fund, has been eyeing opportunities across Europe despite the uncertain outlook for the region.

Equity valuations have come back from lows in the last year across some of the region’s major markets, such as Germany and France, as investors return to snap up opportunities. However, Sergeant – head of UK equities at the group – said it remains a great market to pick up opportunities, especially with the region yet to fully resolve its sovereign debt crisis. His World Recovery fund – which launched in March - now has 60% invested across the region, a large overweight compared to other global funds. Most of the remainder is in the US and Japan. “We love Europe, and most people ha...