Parkfield manager starts off defensive

Parkfield Capital manager Andrew McDonald has taken a mid-cap bias since launching his UK Smaller Co...

Parkfield Capital manager Andrew McDonald has taken a mid-cap bias since launching his UK Smaller Companies portfolio in February but sees small-cap opportunities for the end of this year. He is cautious on the short-term volatility of the market and believes a further interest rate rise will occur in May of 0.25%. “With that increase, we are either at, or close to, the top of the cycle,” he said. “When interest rates peak, smaller companies are where you want to be.” The manager of the ACDS Parkfield UK Smaller Companies fund anticipates further volatility this year but is optimistic...