NEW YORK (TheStreet) -- Investors looking for deals on large-company stocks may want to try on retailers including Aeropostale (ARO) , Deckers (DECK) - Get Report and Coach (COH) , says Bob Barringer, manager of the FBR Large Cap Fund (FBPIX) .

The mutual fund has risen 5.5% this year, half that of its rivals. In 2009, the FBR Large Cap Fund jumped 34%, compared with the 26% gain of the benchmark

S&P 500 Index

.

Welcome to TheStreet.com's Fund Manager Five Spot, where America's top mutual fund managers give their best stock picks and views on the market in a five-question format.

What are your expectations for large-cap stocks in 2011?

Barringer:

Large-cap stocks will have a reasonable return. We are estimating about a 10% return, in fact. We don't expect a lot of change in valuation in terms of price-to-earnings multiple, but decent returns in terms of earnings growth and dividend yield.

3M (MMM) - Get Report underwhelmed the market in its most recent earnings report. Why do you like the stock?

Barringer:

I like 3M for a variety of reasons. The large-cap "quality" space has underperformed for the last couple of years, and it's due for outperformance. 3M is a great company and it is relatively cheap with a decent yield. It is very innovative in terms of its products. They are a big company that acts like a small company. And, lastly, they have good exposure to the emerging markets with about a third of their revenue coming from emerging markets which as we know are growing very well.

You are also a big fan of Oracle (ORCL) - Get Report. Can they continue with their acquisition strategy?

Barringer:

They can. It's going to be more difficult going forward because a lot of the pieces of the pie have been taken. But they have the best product breadth of anyone, and, historically, they have been a very good acquirer of companies. They have done hostile takeovers, and they have also bought companies at reasonable prices. Oracle is one of the companies that has done acquisitions right and has shown an ability to do so.

In the retail space you like Aeropostale. It's tough betting on teen retailers because of fads.

Barringer:

I make sure I buy them right. Aeropostale is a discounter in the teen space. But, over time, this is a company that has proven it can play well in that space. The fashion may not totally be right every season, but they have the profitability and the balance sheet to be flexible as they go forward.

Another brand you are quite high on is Deckers, which is famous for its boots. Can this fad continue?

Barringer:

I don't think it's a fad. They have shown that it has legs -- excuse the pun. Their growth is just beginning in the emerging markets, and they are showing they can be a brand on that border of luxury and aspiring luxury. And they are reasonably priced. And, finally, they have shown an ability to execute in the face of being deemed a fad.

Speaking of aspiring luxury, you are also a big proponent of Coach. Can the company keep growing in the emerging markets?

Barringer:

I think so. They are reasonably priced even though they have gone up quite a lot. They have shown a very good ability to grow especially in the difficult environment in North America and Japan. But, most importantly, in the emerging markets they are small in China but growing.

-- Reported by Gregg Greenberg in New York.

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