Fidelity's Podger revisits unloved sectors in hunt for value

Market movements are pushing Fidelity global equity manager Jeremy Podger to consider companies outside his traditional sectors as he looks further afield for value.

In a webcast for investors, Podger (pictured), running the £1.6bn Fidelity Global Special Situations fund, said it is crucial to avoid complacency in the current environment. Sharp falls in the oil price, equity markets at record highs, and negative yields on government bonds from countries such as Germany and Austria have presented challenging conditions for investors. "We have seen major moves in bonds, currencies, and commodities, this is definitely not a time to be complacent with portfolio positioning. We have got to be open to opportunities arising in the next 12 months in areas...