Neptune's Geffen positions £200m Income fund for weak UK economy

Robin Geffen, CEO at Neptune Investment Management and lead manager on the £200m Neptune Income fund, has been steering the portfolio away from domestically-focused stocks, as he believes the UK economy is "weak and getting weaker".

Speaking in his latest quarterly update on the UK equity income fund, the manager said it is "absolutely critical" to focus on the British economy, which "people are losing sight of" in light of recent political turmoil. "We think the economy is fundamentally weak and getting weaker," he said. "We are positioned for a weak UK economy and for sterling to weaken from here on out. Anyone predicated on strong sterling and UK growth is mistaken." Portfolio positioning As a result, Geffen and deputy manager George Boyd-Bowman have retained positions in companies that are not dependent on ...