Banks, tech 'dinosaurs' and miners: Sectors to avoid for 2013?

Rathbone Unit Trust Management's global fund manager James Thomson has warned investors to avoid areas including banks and giant technology companies as they position portfolios for 2013.

Thomson, running the group's successful £183m Global Opportunities fund, said he was avoiding a number of sectors across global equity markets, with problems on the horizon for areas including banks, miners, and even more defensive sectors such as utilities. Thomson, who has returned 36.6% to investors over the last three years, outstripping peers in the IMA Global sector who returned 18.7% on average, said: "There are a number of areas to avoid. "I have no exposure to banks, mining, autos, utilities, traditional retail and tech dinosaurs, among others." Thomson, speaking at Chelse...