When it comes to an outlook for the next 6-12 months, what can we say with real confidence? Nick Davis, manager of the Polar Capital European ex-UK Income Fund, believes the focus should not be on macro factors which can’t be controlled, but on the starting valuations of companies he likes and the medium term earnings growth they can deliver.
If you have a good combination of the two, argues Nick, you can be more confident that if you buy and hold those stocks, you are better able to navigate uncertainty. Away from the more crowded stocks, Nick also explains how he finds compelling value in out of favour companies on cheap valuations, whilst managing risk.
When it comes to an outlook for the next 6-12 months, what can we say with real confidence? Nick Davis, manager of the Polar Capital European ex-UK Income Fund, believes the focus should not be on macro factors which can’t be controlled, but on the starting valuations of companies he likes and the medium term earnings growth they can deliver.
If you have a good combination of the two, argues Nick, you can be more confident that if you buy and hold those stocks, you are better able to navigate uncertainty. Away from the more crowded stocks, Nick also explains how he finds compelling value in out of favour companies on cheap valuations, whilst managing risk.
Nick joined Polar Capital in September 2014 to set up the European Income team.
Prior to this, he was with Threadneedle where he managed the Threadneedle European Fund and Pan European Equity Dividend Fund, both of which were top quartile performers since inception. Nick was also deputy fund manager of the Threadneedle European Select Fund. Previously, he was a sell-side analyst at Sanford Bernstein and a chartered accountant with Deloitte.
