Shares of Visa hold significant growth potential and could even help investors weather market volatility, according to fund manager Freddy Lait at Latitude Investment Management. Lait, who is also a managing partner at the firm, pointed to Visa's 0.8% gain on Monday — despite a very risk-off mood in the broader market — as a sign of the stock's resilience.
"Even though the growth is slowing to a degree, and the cash-to-card sort of tailwind is slowing, it is still there. There is still a meaningful amount of cash-to-card progression to be made of that business," Lait told CNBC's "Squawk Box Europe" on Wednesday. Visa is among the top 10 holdings in Lait's Latitude Horizon Fund and Global Fund .
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