Cazenove Capital Management’s £512.8 million U.K. Growth and Income fund manager, David Doherty, will avoid taking indirect emerging markets exposure, Financial Times reports. He has taken up a three-pronged investment strategy divided into growth, defensive and special situations stocks. The manager has now shifted his focus to the U.S. One of Doherty’s preferred growth stocks includes Carphone Warehouse, which he believes will benefit from its joint venture with U.S.-based Best Buy, while in defensive stocks the manager believes investors can find premium quality and discount valuation in Unilever and GlaxoSmithKline. Doherty looks to companies for some kind of internal change, such as corporate turnarounds, in its special situations growth stock.
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