Will Downton drive returns? Beagles' best UK recovery story

JOHCM's top performing income manager Clive Beagles outlines his favourite themes within UK domestic stocks, including 'self-help' stories such as ITV, as the economic recovery gathers pace.

We continue to be upbeat about the prospects for UK equities. One theme we have been pursuing is domesticity. Against a backdrop of consistently negative media comment about the UK economy, investor sentiment towards consumer-facing and cyclical stocks has been decidedly gloomy. Yet, given recent encouraging economic data releases and what we hear from companies, this is a case of many doom-mongers not letting the facts get in the way of a good story. We have long felt the UK economy has not been in a double-dip recession during 2012, so the highly positive Q3 GDP release was unsurpri...