SGAM special opportunities fund manager Hari Sandhu believes many of the stocks that helped his fund rise more than 50 per cent last year will be strong performers in 2004.
Sandhu says that, while he does not expect returns this year to match those of last, 2004 will still be marked by improving growth prospects.
He says: “Many of the stocks that served us well in 2003 will continue to do so in 2004. As we have said before, classic recovery stocks tend to recover over a two to three year period, so we will be running our winners for some time. The outperformance will come as a result of continual revaluing of these winners; taking profits and reducing risk, where necessary.”