Royal London Asset Management's Martin Cholwill is backing wealth managers to outperform in the financial services space as he looks for stocks set to benefit from ‘survivor bias'.
The manager of the £475m Royal London UK Equity Income fund named Hargreaves Lansdown, Brewin Dolphin, Investec Wealth and Close Brothers as his picks within the sector. Cholwill (pictured) has been a longtime backer of Hargreaves, and bought into Brewin’s recent share placing, which raised £40m of additional capital to help grow the business. He also added to positions in Investec and Close, after a recent trading update from the latter sent shares lower. Speaking at Investment Week’s Senate Investment Conference this week, the manager said his play on wealth managers is part of a b...
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