'It's not all doom and gloom': Paul Mumford on the case for UK domestics in the face of rising rates

Sterling to strengthen

There are opportunities in UK domestic stocks amid a rising rate environment, a stronger sterling and the country's relationship becoming "clearer" with Europe according to Paul Mumford, fund manager at Cavendish Asset Management.

At the start of the year the Bank of England (BoE) warned  interest rates will continue their ascent back to normality 'sooner and faster' than predicted. Although expected to rise to 0.75% in May, rates remained stationary, with many now anticipating an increase later this year. This was seemingly confirmed by BoE interest-rate setter Silvana Tenreyro on the 4 June, who said although a raise was likely, the timing of one remains uncertain. Given this uncertainty, some investors would be forgiven for getting a bit antsy about their exposure to equities. Cavendish's Mumford: Central ba...