Article: If it's in flux, it's a good play FUNDSMARKETPLACE by Bloomberg

Marco Bertacche
International Herald Tribune
03-20-2007
Angelo Manca became the manager of the top stock fund in Italy by buying shares of companies in flux. His $1 billion Schroders Italian Equity Fund beat rivals by investing in Gemina before the company sold assets last year to focus on managing the airports of Rome. He also profited from Gruppo Coin, owner of the largest department store in Italy, which was bought by a private equity firm last year.''I look for discontinuity,'' Manca said during an interview by phone from his London office. ''Italian stocks are expensive, and the best hedge for a market downturn is to look for companies where restructuring will bring about huge ...

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