RLAM's Lilley claims euro is 'too big to fail'

Royal London's Kevin Lilley is confident in the strength of the euro despite the ongoing troubles in some eurozone countries.

However, he is finding more growth opportunities in US-facing European stocks. The manager of the £559m European Growth trust says European companies exporting to the US are benefiting from its growing economy and the weakening euro. In recent weeks he has introduced a 1.4% holding in Heidelberg Cement and 1% in Buzzi Unicem. “Last year and early this year I was looking for exposure to the Bric-type markets, but the US economy is expecting GDP growth of 3% this year,” he says. “Both these companies have decent exposure to the US market, which is seeing a pick-up in housing sales...