Barnett 'concerned' by Glaxo after strong first year on Invesco Income

Mark Barnett has told Investment Week he is "concerned" over the fortunes of GlaxoSmithKline, a core holding in the Invesco Perpetual Income funds which he began running at the start of March 2014.

Barnett, who took over from Neil Woodford on the Invesco Perpetual Income and High Income funds a year ago this week, has subsequently reduced his position in the pharmaceutical firm, though it remains a top ten holding across his portfolios. Invesco Perpetual remains a top ten shareholder in Glaxo, largely through Barnett's portfolios. The pharmaceutical's shares have shed 8% over the past year, amid a restructuring of its business and profit slowdown which has seen dividend cover fall to just 1.2 times. Speaking to Investment Week, Barnett said: "Naturally, I am concerned about the ...