Marlborough's top-performing small-cap manager Giles Hargreave has increased his holding in retailer Sports Direct in the £513m Special Situations fund, ahead of the start of Euro 2012.
Hargreave has upped his stake in the firm, founded by Newcastle United owner Mike Ashley, to £3m in anticipation of a re-rating in the summer months. The manager (pictured) expects Sports Direct will benefit from the Euro 2012 and the Olympics, which will boost sales at the retailer. "We have bought more Sports Direct, which is gaining market share all the time from its competitors," he said. "The company has a famously generous incentive scheme for its staff and as a result it has very keen employees, as well as very keen prices. "So it should do very well, particularly with th...
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