Wintle cuts holdings to benefit from further rally

Neptune's Felix Wintle has reduced the number of holdings in his US Opportunities fund to avoid diluting returns in the coming months.

A bullish Wintle cut the number of positions in the portfolio from 66 to 55 over the past six weeks, while the portfolio is also now fully invested. "We believe the macro data coming out of the US, China, Europe and Japan will continue to beat expectations and corporate earnings will surprise investors to the upside," Wintle says. "These factors support our view that the most likely direction for global stock markets is upwards for the remainder of 2009." The manager says his portfolio is positioned for a continuation in the rally. "We sold our discount store holdings, including...