Matthews drops Buxton's 'problem' cyclicals

clock • 2 min read

Philip Matthews has turned over almost half the holdings in the Schroder UK Alpha Plus fund since taking over the fund from Richard Buxton in October, IFAonline sister title Investment Week can reveal.

In his first interview since joining Schroders, Matthews revealed he has sold around 40% of the portfolio, diversifying away from the domestically-exposed cyclicals long favoured by his predecessor to focus on different sectors. "That was one of the things I felt was a problem when I took the fund over: it had Whitbread, IAG, Debenhams, Home Retail, Ladbrokes, Taylor Wimpey, Barclays, RBS, and Lloyds, which are all exposed to an improving domestic consumer," Matthews said. "We are moving into ideas like media, tobacco, and pharmaceuticals, where we think there is a better risk-reward ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA to cut corporate bonds red tape to drive greater retail investor and wealth manager access

FCA to cut corporate bonds red tape to drive greater retail investor and wealth manager access

Move intended to boost UK growth

Linus Uhlig
clock 31 January 2025 • 2 min read
Partner Insight:  Future-proofing your business:  The case for investment outsourcing

Partner Insight: Future-proofing your business: The case for investment outsourcing

Schroders' Jamie Fowler and Philip Chandler explain why outsourcing is a proactive strategy that can transform your advisory business.

Schroders
clock 31 January 2025 • 2 min read
Watch Professional Adviser's Working Lunch with Orbis now: Risk and return from the bottom up

Watch Professional Adviser's Working Lunch with Orbis now: Risk and return from the bottom up

Catch up on the discussion

Professional Adviser
clock 31 January 2025 • 1 min read