Greg Bennett, deputy manager on the £377m Argonaut Absolute Return fund, has revealed the top three performing short positions on the fund in the second half of last year and the key factors behind their outperformance.
Bennett (pictured), who co-manages the fund, alongside lead manager Barry Norris, said they are particularly bearish on the financials, energy and consumer staples sectors, with net exposure of -2%, 2.5%, and -0.3% respectively as at 31 December 2015. Bennett said: "We are long companies where earnings are being underestimated, and short where there could be profit warnings and downgrades. "Currently, the three biggest market drivers are uncertainties over US interest rates, growth in China and oil prices. "2016 will continue to be tricky and we will have to look hard for opportuni...
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