For fund managers who purposefully seek out cheap stocks, it's always a gratifying moment when the rest of the market buys in and sends your portfolio soaring. This is what has been happening to Frederic Leguay for the past two weeks - and he reckons the same trends are likely to continue throughout 2011.

Leguay, who is head of the European equity team at HSBC Global Asset Management in Paris, has racked up a second week at the top of performance tables prepared by data company Financial Express, entitling him once again to be named Financial News' featured fund manager of the week.