Threadneedle's Weldon cautiously optimistic as a US recovery surprises

American Select fund manager says his team has been surprised by how well the world's largest economy has done over the past six months

How would you describe your investment process? At the start we take a view on where the economy is going at different points, which helps us think about what sort of companies and sectors we want to focus on. After that the process is much more bottom-up, so we have a member of the desk responsible for a sector and that includes the fund managers as well as having dedicated analysts. It is then really just the team working together to find out what we might want to look at because we do not sell research, we sell funds, so we cannot have analysts looking at stocks for the sake of it. ...