Neptune's Breese overweights ‘misunderstood' media stocks

Neptune's Alex Breese is taking an overweight position to the media sector in his UK Special Situations fund.

The manager has 10% of the portfolio invested in the sector, compared to 2% for the fund’s benchmark index. Breese said he was overweight the sector as technological innovation was driving structural change within the industry. He said: “The new generation of smart devices is allowing us to shop, bank and access entertainment online.  “By 2016, the number of those devices in use, such as phones and tablets, will have doubled. This presents significant challenges and opportunities, because of which I believe the sector is misunderstood.” Breese admitted while traditional media, like ne...