Walker Crips pair add US stocks to play slide in sterling

Walker Crips managers Jan Luthman and Steve Bailey have increased their exposure to companies operating in emerging markets in anticipation of further falls in sterling.

The pair have added several stocks with emerging markets exposure across their UK equity fund range, including US consumer staples companies which have been growing their sales in the region. Recent buys include Heinz, Pepsi and Kimberley Clark, all of which have been added to the funds to bring exposure to the US up to 11% in the Equity Income fund, and 8% in the Growth fund. Luthman said these types of company are even more attractive during a period when their currencies are appreciating against sterling. "We are bearish on the outlook for sterling and think it will further depr...