Fidelity's Himsworth buys into 'unloved' food retailers for first time in years

New holding in Sainsbury's

Leigh Himsworth, manager of the Fidelity UK Opportunities fund, has bought back into 'unloved' food retailers after having no exposure for years, building a new holding in Sainsbury's.

Himsworth, who runs the £74m Fidelity UK Opportunities fund, said food retailers have been an 'unloved' sector of the UK economy, facing a number of issues over recent years. However, he has now made tentative steps back into this sector with the purchase of a small exposure in UK supermarket Sainsbury's. "Food retailers have had a very tough few years and been under severe pressure. It is an area that we have not had exposure to at all in the portfolio for a number of years. "But for the first time I now have a holding in Sainsbury's as it is looking very cheap, having suffered fr...