View the article online at http://citywire.co.uk/money/article/a595353
Old Mutual’s Dan Nickols: the UK tech stocks poised for growth
Nickols, who manages the Old Mutual UK Select Smaller Companies fund, is targeting companies with high barriers to entry that can offer above-average growth.
Nevertheless, he maintains Smiths News is ‘an interesting business and it is continuing to grow profits even in the context of a difficult environment by virtue of consolidation and just being a very tightly managed business’.
He has also bought a stake in Ulster TV, because it is currently on a P/E of seven, even though it owns the solid Talksport business. ‘The bottom line is, any business which is going to deliver that P/E is just too cheap,’ he said.
Nickols’ Old Mutual UK Select Smaller Companies fund has returned 1.77% over one year, compared with the average manager’s 0.02% return.
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by Dumb Investor on Oct 07, 2014 at 14:55