Artemis buys into gold and oil

uk growth manager adrian paterson is selling down mid caps in favour of ftse 100 firms

Adrian Paterson, manager of the Artemis UK Growth fund, is increasing exposure to large and small cap stocks at the expense of the Mid 250. Paterson, who took over management of the portfolio from Mark Tyndall in September 2002, believes mid caps have already had their run, following a strong rally since March. The fund is currently invested a third in FTSE 100, a third in the Mid 250 and a third in small caps. Paterson said large caps look relatively cheap against the Mid 250, while plenty of individual opportunities remain among smaller companies. Even in a fund worth £240m, Paterson b...