Gambhir moving Europe fund into growth stocks

Ajay Gambhir is increasingly shifting the JPMorgan Fleming Europe Dynamic fund towards growth stocks...

Ajay Gambhir is increasingly shifting the JPMorgan Fleming Europe Dynamic fund towards growth stocks, and away from pure value plays. The fund, launched in October, continues with the standard JPMF approach of using screening to identify stocks exhibiting either value or growth. Gambhir, head of high alpha funds at the house, is particularly keen on companies that exhibit both characteristics, highlighting stocks such as Greek gambling firm Opap. He said Opap is growing its top line at double-digit pace, but still presents a dividend yield of 6.5% and a P/E ratio in the low teens. The gr...