Irish shares ‘to lure investors’

IRISH companies are attractively valued and set to benefit from an improving economic backdrop, according to a fund manager at global asset managers Schroders.

The analyst singled out the main Irish banks and Ryanair as being of particular interest to investors. He also placed an overweight rating on the country.

“We took a view that Ireland went into the crisis early, took the medicine, and is probably going to be one of the early recovery stories,” said Andy Lynch, manager of the Schroder Euro Dynamic Growth Fund. This Schroder fund, valued at €176.4m, has lost 9% in the six months to June, compared with a decline of 8.4% for its benchmark.