Invesco Perpetual's Barnett 'committed' to pharmas despite Glaxo sale

Still positive on prospects

Invesco Perpetual's Mark Barnett is still positive on the prospects for pharmaceutical companies, despite selling out of the remainder of his long-term position in GlaxoSmithKline in June.

The group's head of UK equities (pictured), and manager of the £12.5bn High Income fund, said he is "still committed" to the sector and holds a range of companies across the market-cap spectrum, but sold GlaxoSmithKline due to its lack of investment into "new science". "The long-term trend in pharmaceuticals is very interesting, with the aging Western population and improving science on the back of biological drug research. "The science is actually coming from large and small companies and I am keen to expose the portfolio to both," he said. Pharmaceutical holdings left in the port...