Fund manager Sean Page said investors should look for opportunities in Europe’s unpopular region, which he said has some “very attractively priced” companies.
Ranmore Fund Management’s Peche told CNBC’s Silvia Amaro that Europe has fallen out of favor and investors are distracted by Donald Trump. Donald Trump’s America. The election was won.
“You’re feeling Trump’s excitement at the same time that Europe is struggling,” Page said. “So everyone is rushing to invest in the U.S. … but moving to the latest and shiniest thing is generally not a good way to make money. “
Peche downplays investor concerns about France, which – with germany – has been in the throes of political turmoil in recent weeks. French President Emmanuel? Macron appoints François Bellew as new prime minister Following last week Michel Barnier’s government overthrown.
Macron called snap elections in June but the results fell short of a clear majority, sparking months of political chaos and deadlock.
But Peche remained unmoved. “Maybe the euro will collapse, maybe not. And the companies we have are very attractively priced,” he added.
These stocks include French banks BNP Paribas – He noted continued growth in book value (or net assets) – and ING ABN AMROthe dividend yield is 10.2%. “It’s very attractive,” Peche said.
Looking ahead to the UK, the fund manager said “attractive” stocks such as united british foodThe company that owns retail giant Primark has also been ignored by investors.
“Primark is doing really well. It’s a good diversified business with a good management team. I’m not going to wake up tomorrow and find out the management team has done something stupid,” he said.
“They’re attractively priced. We’re getting a good dividend. They’re buying back shares, but it’s fallen out of favor because it’s mid-cap and it’s UK-listed.”
Follow toy manufacturers
Page is optimistic about mid-sized companies on the other side of the Atlantic, such as the American toy giant Mattel.
With household names like Barbie and Hot Wheels, the toymaker has diversified beyond its core products.
Mattel’s management team “turned around the business so that the debt is now very manageable, and they launched $1 billion buyback,” Peche said.
Peche said Netflix’s new Barbie animated series, launching in November, and a second documentary series chronicling Mattel’s rise in September offer “growth potential” for the toymaker, now valued at about $6.2 billion. ”.
Mattel sees buying of Barbie toys surge after splash The success of the “Barbie” movie 2023, Highest box office The film’s global box office that year exceeded $1.4 billion. It also makes toys for hit movies like “Moana” and “Wicked,” though The latter encountered obstacles The company was forced to withdraw its line of character dolls due to a typographical error in packaging that linked to pornographic websites.
In October, Mattel and competitors Hasbro Lowered year-end guidance Due to a decline in toy sales in the third quarter. Mattel said it expected sales in the final three months of the year to be “slightly down” from its previously updated guidance.
—CNBC’s Christian Burt contributed to this report.
