Majedie UK Income ramps up overseas exposure to maximum

Majedie's UK Income fund is close to the upper limit it is allowed in overseas stocks, as manager Chris Reid looks for opportunities in international dividend payers.

Reid (pictured) said the market environment over the past few months has been “fantastic” and he is finding a number of opportunities both in the UK and in markets outside it. “We have some interesting ideas in the UK, but 20% of the fund can be in cash and non-UK assets, and we are close to that mark at around 19.5% at the moment,” he said. “Some sectors in particular are difficult to allocate to in the UK, such as technology and telecommunications. We are also particularly excited about Italy as a market. There are genuine changes going on there.” Having officially launched into ...