Templeton Fund Has Faith in Value Stocks: Manager
In the current difficult market, investors should "have faith" in large-cap value stocks, Templeton Global Balanced Fund portfolio manager Lisa Myers told CNBC Wednesday.
With the concern over sovereign debt and other issues, "All we can really grasp at is when we look at the markets over time, we know that we tend to get through these periods," she said. "So being a bottom-up stock investor, I take a lot of solace" in owning strong, albeit undervalued, global companies.
The fund likes technology stocks, calling the sector "a great example of where companies today have a lot of cash on their balance sheets." She likes SAPand Oracle in particular, because they will be the beneficiaries of global companies that still want to invest in enterprise software, even if they are reluctant to do more hiring.
Myers also sees a lot of value in health-care stocks, including Merckand Sanofi-Aventis . She called them "undervalued stocks that have made acquisitions in the biotechnology space. They’re diminishing the pressure from patent expirations, they’re cutting costs. They are global players."
Some of the fund's other holdings include Vale SA , Siemens and Royal Dutch Shell .
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Disclosure information was not available for Lisa Myers or her company.