Premier's King halves UK Alpha Growth's holdings

Premier's Simon King has cut the number of holdings in the £23m UK Alpha Growth fund by half since taking it over from PSigma's Bill Mott.

King has cut the number of stocks from 80 to around 40 to suit his high conviction style. The manager plans to cut at least another ten names from the portfolio, which eventually will hold an average of 20 to 30 stocks. The former Gartmore manager has made the reduction by selling many of the small-cap and income-focused stocks in the portfolio. He has also closed out underweights to miners and banks. "Mott tends to run funds with an income bias, whatever the mandate, and I have focused it more on growth. There was also a long tail of small-cap names," he says. "Although I believe ...