Old Mutual Asset Managers' Richard Watts highlights five UK stocks he is backing to benefit from self-help despite the tough economic conditions they face.
Watts, manager of the £947m Old Mutual UK Select Mid 250 fund, said there are a number of strong ‘self-help' stories among companies in UK domestic sectors which are generating strong growth and which should not be overlooked in favour of global alternatives. Paragon Group A business that commanded a sizeable share of the buy-to-let mortgage market in its heyday via subsidiary Paragon Mortgages, it was forced to withdraw from the market as a result of the credit crunch. However, it has restored its cashflows and established a £200m credit facility to back re-entry. Paragon has subs...
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