161. Outperforming against the odds

Hugh Sergeant, manager of ES R&M UK Recovery fund, explains how his fund has managed to outperform even though his style of investing has been out of favour. He tells us why multiple holdings are good for value strategies, but fewer holdings work better for growth strategies, and discusses the reopening trade and outlook for the UK economy. He reveals why he has recently invested in Fidelity China Special Situations and Baidu and tells us why level concrete has produced the best performing stock in his portfolio.