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Jupiter's de Fonclare: positivity on Spain has been overplayed

by Matthew Goodburn on Dec 18, 2013 at 16:07

'I got a bit uncomfortable with the valuations and saw better opportunities elsewhere in other quality names.'

De Fonclare continues to avoid poor quality companies with weak balance sheets.

'We will not play the cyclical bounce through poor quality companies like Peugeot but will keep our focus on quality firms with stronger balance sheets.'

Over three years to the end of November, the fund has returned 40.9% compared with 27.9% by the average manager in euro terms.

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Co-op files £2.5bn loss after 'disastrous' 2013

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