IGR to prosper post Brexit...29 Jul 2016 08:52
IG Design to weather ‘Brexit’ storm, says Williams
Citywire AA-rated Gervais Williams is backing IG Design (INGR) to prosper post-‘Brexit’ that’s to exposure to overseas markets.
Williams holds 3.6% of his Miton UK Smaller Companies fund, which he runs with Citywire AA-rated Martin Turner , in the company.
The stock is one of his few holdings exposed to consumer discretionary spend, a sector of the market likely to come under pressure if the ‘Brexit’ vote sparks a slowdown in the UK economy. But Williams said IG Design was likely to prosper given the fall in the pound.
‘This company does manufacture wrapping paper, cards and crackers for the US, Europe and the UK markets. If anything it should be a beneficiary of the weakness of sterling given the manufacturing plant here, and sales and profits generated overseas in foreign currencies,’ he said.
Williams’ fund has returned 57.4%, more than double the 26% average return of funds in the Investment Association’s UK Smaller Companies sector.
http://citywire.co.uk/money/the-expert-view-rbs-lloyds-and-itv/a937169?re=41423&ea=293