Legal & General Investment Management's (LGIM) Stephen Message has begun to reshape the £270m UK Equity Income fund he took over last month, focusing on four key areas to improve performance.
The manager joined LGIM in the summer from Old Mutual Global Investors and took over the £270m L&G UK Equity Income fund from former manager Andrew Koch in October. Message said he has so far turned over around 25% of the portfolio to focus on four key strategies he hopes will boost future performance; increasing the active share, diversifying the yield, increasing the value bias and bringing in dividend growth strategies. LGIM expands active equity team with second appointment As a result, Message has reduced large holdings in Royal Dutch Shell and HSBC, added further exposure ...
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