The UK economy has “rebound potential” due to its high vaccination rate and lower valuations, said Richard Penny, manager of the TM CRUX UK Special Situations fund, which recently surpassed £200m AUM.
While it is "easy to be negative on the UK economy" due to the lingering effects of Brexit and "not having the big growth stocks as in the US," Penny noted he does not believe "we saw the recovery that most UK investors would have expected" in 2021, meaning more potential for growth in the year to come. "In a slightly stronger performing economy and at a low valuation, you would expect to see more people going overweight the UK, but we have not seen that," he added. "Valuation is cause for optimism in the context of the UK." Penny pointed to escape room business Escape Hunt as an e...
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