Big Question: Neptune UK Mid Cap contrarian calls

Mark Martin, Investment Director, Head of UK Equities

At 10 per cent of the portfolio, Carpetright is a major holding in the Neptune UK Mid Cap Fund and one of its most contrarian positions, based primarily on the company’s significant self-help potential as well as exposure to UK and European economic recovery. The company has recently appointed new management following the retirement of its founder. It is now undergoing a significant site rationalisation, exiting leases on underperforming stores and moving to convenient high-street locations to materially reduce fixed costs. The company has improved its online offering and has launched an interest-free credit service that should facilitate upselling to more premium products.

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Investment risks

References to specific securities are for illustration purposes only and should not be taken as a solicitation to buy or sell these securities. The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you as to any change of our views. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. This is not a solicitation or an offer to buy or sell our funds. All information is given in good faith but without any warranty. Neptune does not give investment advice and only provides information on Neptune products.

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