Bailey and Luthman back Nestlé in Liontrust Macro fund

Steve Bailey and Jan Luthman have added European food giant Nestlé to the £242m Liontrust Macro Equity Income fund as part of a wider play on consumer staples.

The former Walker Crips Asset Management duo are favouring the sector as part of their globalisation investment theme, and have ramped up exposure by 5% since last year. Bailey said Nestlé - which is sitting on a high price to earnings multiple as investors continue to seek out safe haven stocks - remained attractive despite the price. "Nestlé recently acquired Pfizer's infant nutrition businesses which give it increased exposure to emerging markets, where the real growth is in baby nutrition," he said. The duo (pictured) initially looked at buying Nestlé last summer but were put o...