Buxton keeps cyclical bias

Richard Buxton, head of UK equities at Schroders, is encouraged by the lack of enthusiasm in the equity market. He believes there are risks in being too bearish too soon, and is keeping a cyclical bias in the Schroder UK Growth and Schroder UK Alpha Plus funds. He has a higher weighting in FTSE 100 stocks than usual and is looking at beneficiaries of an upturn in corporate consumer confidence, such as BA and Inter-Continental Hotels. He is maintaining exposure to companies that will benefit from the strength of Asia.