McLean backs consumer shares in face of economic headwinds

SVM's Colin McLean is backing retailers which have been shunned by the market, despite expectations of weak growth in the UK and higher taxes squeezing shoppers.

McLean, running the £41m SVM UK Growth fund, says investors would need “strong nerves in the short term”, but highlighted a number of stocks which are set to bounce back. McLean says retailers such as Next and Marks & Spencer should be able to cope with any downturn. He says: “Well managed general retailing chains such as Next and Marks & Spencer should be able to adapt to the new consumer environment. “If investors have held these shares for several years, they should not expect the weak economy to derail these businesses.” For the largest retail groups, the risks may be more ...