Felton approaches volatile market with caution

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Manager of M&G UK Select is taking a safety first approach to investment, targeting diversified, financially sound companies with little or no gearing

M&G's Mike Felton is favouring caution in the face of the market volatility and weakening macro-economic backdrop. Felton said he is taking a safety first approach on his UK Select fund, investing in diversified, financially sound companies with little or no gearing. "We have seen a headlong rush for the exit among mid and small caps," he said. "I see more outperformance to come from top 10 FTSE names." Felton poured cold water on the decoupling theory, pointing to the fact the Chinese themselves have admitted a slowing US economy would trigger a drop in Chinese exports. "These co...