Nigel Thomas, manager of the £3.8bn AXA Framlington UK Select Opportunities fund, has added to a number of his holdings that are benefiting from President Donald Trump's pro-business outlook.
In his latest Thomas Report, the manager (pictured) said he has increased his position in equipment rental company Ashtead, whose major trading subsidiary is US plant hire company, Sunbelt Rentals. The move is a play on the inflation/reflation trend which is being seen globally, but with a particular focus on infrastructure on both sides of the Atlantic. The firm has a rental revenue of $2.9bn and $1.1bn worth of earnings before interest, tax and amortisation, and Thomas said it is second only to market leader United Rentals. He said: "Not only would the sector benefit from extra i...
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