Nigel Thomas, fund manager of the £3.3 billion AXA Framlington UK Select Opportunities fund, tells New Model Adviser® why he has been buying UK stocks with exposure to the United States economy.
He said his two recent purchases, Ashtead and Wolseley, were plays on the US recovery and the housing market turning around.
‘I went out to the States at the end of September,’ he said. ‘There is a recovery starting.’
In an exclusive interview with New Model Adviser® deputy editor David Sandham Thomas pointed to cheap shale gas as one of the reasons for the recovery.
The fund has doubled the return of the FTSE All Share over the last decade.