Lansdowne Details Short Thesis For Capita Plc

Lansdowne Princay Fund Ltd was down 1.24% in the first quarter, even after grabbing a 3.15% return in March. During the same time, the European stock market fell 8%. The fund explains why it is bullish on the French bank Credit Agricole and bearish on business solutions company Capita plc in U.K. Take a look at returns from Lansdowne Developed Markets Fund in Q1. Lansdowne Princay fund managers spent most of the quarterly letter explaining why they have kept a large gross and net long exposure. The fund has a bias towards cyclical stocks and believes that the current fundamentals of economy, low…