Majedie repositions Edinburgh IT in companies that will be in 'stronger shape' after crisis

98% of intended trading completed by new manager

Majedie Asset Management has repositioned the Edinburgh Investment Trust with a focus on companies "with strong market positions" that should emerge from the coronavirus crisis "in even stronger shape".

In a portfolio update from the company's AIFM, it revealed that many of the larger positions in the reorganised trust included Tesco, Smith & Nephew, Hays and Marshalls, which are "leaders in their fields". It stated: "Despite the massive monetary and fiscal stimulus, weaker companies are likely to close or be taken over at depressed prices. "In short, the competitive landscape will tighten yet further: this will be corporate Darwinism on steroids. "Our focus on strong and sustainable business models will be even more important than before the crisis." Investors 'underwhelmed' b...