Sanford DeLand's Free Spirit manager Eric Burns on the UK as a 'dirty word'

Burns noted the UK had been a "difficult place to be", noting that in recent months the fund's price-to-earnings ratio had dropped from 30x to 20x, while its free cash flow yield surged from 3% to 5%. CCLA launches modern slavery benchmark for UK listed company investors However, he was keen to stress that the UK's woes did not necessarily translate to poor performance for the fund: "Just because a company is small, that does not mean it is UK focused." A majority of the fund's revenues comes from overseas, and Beggs stressed that many of their holdings were "global leaders in thei...