. I look for large and mainstream businesses whose share prices look cheap, I am not trying to scrape the barrel for 'death or glory' situations. As the previous government found out to its cost, this is a balancing act. I don't think the Truss administration was wrong in its pursuit of growth. For a highly indebted economy like the UK, growth is essential, but at the same time the Government has to be realistic. I expect the new Government will tiptoe its way through the situation.){kind=link}
Fund of the Week: Veteran fund manager Martin Walker says British stocks are susceptible to hostile and foreign takeovers
Investing in British stocks this year has felt like a brutal assault course. So far there have been resignations from two prime ministers and a disastrous mini-Budget, which sparked the biggest fire sale of the pound in 35 years, sending many shares into freefall.
Martin Walker, manager of the Invesco UK Opportunities fund, hopes the appointment of Rishi Sunak as Prime Minister will herald a period of relative political calm, which in turn could encourage foreign companies to snap up cheap UK companies.
His £1.1bn Invesco UK Opportunities fund has performed well in spite of a challenging 2022. It is up 4.1pc over the past 12 months, which compares to a 12.9pc loss by rivals. Over three years, the fund has returned 26.4pc versus 1.2pc from similar funds.
Mr Walker is banking on the oil and gas sectors to power his returns in the future. He expects demand for oil to outstrip supply, causing prices to stay higher for longer – a scenario that he says is not reflected in the share prices of BP and Shell, his two biggest holdings.