Tilt to technology delivers top-quartile performance

A move to riskier stocks earlier in the year has paid off for Threadneedle's Weldon

While the majority of managers agree calling the bottom of the market is nigh on impossible, Threadneedle’s Cormac Weldon made that call and it has paid off. The manager of the £950m American Select fund says a move into defensive stocks in late November, combined with an uptake of riskier stocks in early spring before the rally, has helped the fund maintain its top-quartile ranking. The fund, which launched in March 1982, currently sits in 11th place of 77 funds in the IMA’s North American sector over one year to 29 June. “Our stockpicking was really good throughout the first peri...