Neptune UK Mid Cap team: How we responded to 'indiscriminate' post-Brexit sell-off

FTSE 250 suffered since referendum

Neptune Investment Management's Holly Cassell has revealed the moves made on the £607m UK Mid Cap fund, run with Mark Martin, as FTSE 250 names were badly hit in the aftermath of the Brexit vote.

Cassell (pictured) said although the pair did not make major changes to the portfolio, the sell-off provided opportunities to add to stocks they have previously rated but were waiting for a better entry point. Although the group did not expect Brexit to happen, the portfolio was shielded by being underweight domestic cyclicals "on valuation concerns", holding few consumer discretionary and financial names, and zero housebuilders. Since the 23 June to 30 August, the fund has returned 4.4%, compared to the FTSE 250 return of 3.9%, according to FE. Are mid caps facing a period in the ...