Letchfield: IT infrastructure may defy austerity

TIP OF THE WEEK

Alec Letchfield, UK wealth CIO of HSBC Asset Management, runs through the stocks he believes will benefit your portfolio in the current environment

Corporate cashflows have been markedly improving, with UK Plc now running itself much more efficiently, albeit via a significant amount of cost cutting. But as a result, firms are in much better shape, with more cash-rich balance sheets. With both consumers and the government cutting back on their expenditure, we are looking at sectors and stocks we believe are likely to benefit in the current environment of more prosperous firms. Logica IT and business services company Logica is one such firm. The group provides business consulting, systems integration and outsourcing services to clie...