New Star's Global Financials manager Guy de Blonay has increased his US exposure, believing the Stat...
New Star’s Global Financials manager Guy de Blonay has increased his US exposure, believing the States to be first out of the global recession, recently picking up Bank of America and JPMorgan. He is retaining his cautious stance, and says it is still too soon to pick the winners in the UK. The manager firmly believes financials will fare relatively better than technology, mining or retail sectors, having already priced in the recession. On a macro outlook, de Blonay believes restoring confidence in global markets is the priority. Credit market functionality must be improved, and he...
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