Omam's Murphy favours acquisitive fund houses

UK Select Equity manager chose stocks after recent buyouts

Stocks such as Aberdeen or Henderson offer the most compelling value in the financials sector, says Old Mutual's Simon Murphy. The UK Select Equity manager put 1.5% of his fund into both stocks after news Aberdeen had acquired Credit Suisse's asset management business and Henderson had bought New Star's fund range. While Murphy expects to see a growing number of consolidations and takeovers he says it is not always easy to access this type of play because most are not available on the stock exchange. "I bought into Aberdeen when it purchased the asset management book from Deutsche Ban...