William Littlewood's £910m Artemis Strategic Assets fund has initiated positions in battered retailers HomeServe and Home Retail Group in the belief their share price falls are overdone.
The position in Home Retail Group accounts for 0.8% of Strategic Assets' equity longs, with HomeServe accounting for 0.7%. Littlewood initiated the position in the two retailers after both companies saw steep selloffs in their share prices this year following well-publicised trading difficulties. HomeServe saw its shares plummet 28% on 31 October after an internal report from Deloitte suggested potential mis-selling. The company, which is also held by Invesco Perpetual's Neil Woodford in his Income and High Income funds, announced this morning it would begin outsourcing complaints ...
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