AXA IM's Thomas: Why UK investors should not be 'downhearted' over China slowdown

Some stocks set to benefit

Daniel Flynn

Nigel Thomas, manager of the AXA Framlington UK Select Opportunities fund, has said investors should not be "downhearted" over China's economic slowdown, as selected stocks in the UK are set to benefit.

In his latest report, Thomas (pictured) said some holdings in his £4.2bn fund have seen a positive impact from the falls in commodities and oil prices following China's currency devaluation, as well as a potential US rate rise before the end of 2015. Speaking about the slowdown in China, Thomas said: "We should not be too downhearted. Some of the UK companies held in the [fund] have benefitted from the fall in commodities and oil prices." One such stock is the fund's seventh largest holding, plastic packaging company RPC Group, which Thomas said has a raw material cost advantage as a ...

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