Invesco Perpetual's Simon Laing and Simon Clinch have reshaped the £353m US Equity portfolio, halving the number of holdings and cutting consumer staples in favour of healthcare.
The portfolio has around 40 stocks, a more “manageable” number than the 70-plus holdings Laing inherited when he joined from Newton to become head of US equities in January. Laing (pictured) hired Clinch in March from J Rothschild Capital Management as his co-head of US equities and the pair set about adjusting the portfolio. “The portfolio turnover has been a broker’s delight,” said Laing. Clinch added: “The next six months will be volatile in the US equity markets with the presidential elections and fiscal cliff. You need to know your companies well to build positions around that...
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