Invesco Perpetual's Walker: The M&S opportunity appears 'underappreciated'

At the moment, I am finding value in a number of pockets across the market - including the oil & gas, financials and telecoms sectors - but a lot of my recent positioning has been oriented towards increasing sterling exposure via a number of deep-value domestic plays.

Many domestic UK stocks sold off heavily following last June's vote for Brexit and to date, their recovery has been hampered by diminished confidence in the outlook for sterling and the UK economy.  Since the big move down in the pound last summer, I have instinctively felt this has been overdone, but my optimism for a sterling recovery is long term given the potential for further near-term volatility around political news flow.  Godber & Hamilton: Markets rife for active managers as stock correlations hit decade lows While UK retailers were among the post-Brexit casualties, high s...