M&G fund manager Stuart Rhodes is holding an overweight position in "distressed" energy sector for his £6.4bn Global Dividend fund as they experience an uptick in demand.
The manager (pictured) has 20% invested in energy-related stocks which is focused on energy infrastructure, petrochemicals and energy services. Energy has significantly underperformed recently with the S&P 500 Energy index returning 13.4% over three years to 3 January, according to FE, versus returns of 56.8% by the S&P 500. Speaking at an investor outlook, Rhodes said energy stocks had started to decline while demand for energy was going up following the decline in the oil price in 2014/15, particularly outside of OECD countries. "There are lots of investment opportunities in en...
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