Rice and Currington avoid higher beta in favour of cyclicals and value defensives

managers of cazenove and hsbc european growth funds remain optimisitic about the propspects of a european recovery

While Europe has been a tough sell for the past two-and-a- half years due to the savagery of the bear market, competition between providers has arguably intensified. Cazenove's coup in recruiting HSBC Asset Management's heads of UK and European equities Tim Russell and Chris Rice last September has undoubtedly bolstered the strength of its retail offering. Although Cazenove had been a relative minnow in the retail market until attracting Russell and Rice, along with their HSBC colleagues and respective UK and income fund managers Julie Dean and Wade Pollard, the recruitment of such a hi...