Rosemary Banyard, fund manager of the SDL Free Spirit fund, has said M&A activity in the UK market is defying concerns about Brexit and global stability, as she reveals three companies held in her fund have been bid for since the start of August.
The multi-cap fund, which was launched in January, has around 30 holdings in total meaning almost 10% of stocks in the portfolio have been subject to takeover bids. "There is much talk of companies being unwilling to commit to long- term capital spending because of nervousness about the details of a Brexit deal, and more general concerns about global stability and possible trade wars," Banyard said. She also pointed to a CBI survey which found over 40% of businesses said Brexit was having a negative effect on their investment decisions. Banyard reveals key positions in Free Spirit...
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