Former City fund manager, Logie Cassells has joined Alan Steel Asset Management (ASAM) as Investment Strategist.
Mr Cassells, who managed the Hallmark Fund which was named Diversity Fund of the Year in 2000, has been working as a consultant to ASAM since 2002. His new role will be to install a more formal investment structure into the Linlithgow-based IFA company which was voted UK Investment IFA of the Year in both 2005 and 2007.
A convinced contrarian, Mr Cassells sees plenty of opportunities in the current stock market and believes ASAM clients will share his optimism: “Despite the gloom-mongering we see all around us, I believe our investors will be pleasantly surprised by the increased value of their equity portfolios over the next twelve months”, he said.
“The herd is invariably wrong. We have always believed you can make money on sentiment and we don’t ever want to be with the crowd. Our view is that we are happy with our current position and that that if you confidently back the right equity sectors you will be well rewarded.”