ANCHOR (OFF-CAMERA) ENGLISH SAYING:

Well, you get to look at the whole world and choose stocks. What part of the world is giving you the most opportunities, generally speaking?

SIMON WEBBER, PORTFOLIO MANAGER, SCHRODERS, (ENGLISH) SAYING:

Well, I'd say at a regional level, we're seeing a lot of potential for recovery in Europe. The incremental improvement in growth in that part of the world is bigger than we're seeing elsewhere. It's not a huge absolute level of growth, 1%, 1.5%, but it's a big change from the recession we saw last year. At a sector level, we are finding a lot of good companies with interesting growth prospects in the industrial, the technology sectors and we feel that there's a lot of structural growth drivers to today's industries, whether it's the mobile internet, whether it's automation and companies exposed to those things.

ANCHOR (OFF-CAMERA) ENGLISH SAYING:

Can you give me an example of an industrial name or two that you like?

SIMON WEBBER, PORTFOLIO MANAGER, SCHRODERS, (ENGLISH) SAYING:

One of the companies we like is SMC in Japan. They make pneumatic equipment that gets used to automate factories builder equipment for the world. They have a 30% market share growing in every region and they're also benefiting from the weaker Yen at the same time that companies are beginning to invest in that kind of equipment again.

ANCHOR (OFF-CAMERA) ENGLISH SAYING:

Any industrial companies within the US or Europe?

SIMON WEBBER, PORTFOLIO MANAGER, SCHRODERS, (ENGLISH) SAYING:

Within the US, we really like companies like Eaton but also Schneider in Europe who play to similar end markets. Both of those companies have good products for electrical distribution, low voltage equipment and as the construction markets recover, firstly in the US and then we think Europe will follow it, we think that demand for those companies' products will be improved.