Steer: Overseas earnings may be too expensive

Artemis UK Growth fund manager has boosted performance with overseas earnings strategy but is beginning to look at UK-centric stocks

Tim Steer has turned around performance of the £368m Artemis UK Growth portfolio since taking over the fund nearly two years ago. The manager has delivered top quartile performance, with a return of 21.1% in the last year alone compared to IMA UK All Companies sector average of 14%, according to Morningstar. Here Steer discusses how companies with an international focus are now much less attractive after a period of outperformance, with more opportunities emerging in the domestic-focused names in the UK. Have companies with overseas earnings peaked now? We have had to start thinki...