BWD Rensburg is to reduce the number of stocks in its High Yield Bond fund and is also looking to bo...
BWD Rensburg is to reduce the number of stocks in its High Yield Bond fund and is also looking to boost the yield on the portfolio. Gerard Lane, who manages the unit trust, will cut the number of stocks it holds to around 60 from 70 over the next six months. The move is designed to give him more time to spend on individual holdings in the portfolio. At the same time he wants to increase the yield from 5.8% to 6% by boosting the weighting of A rated stock from 40% to 60% and cutting the AA weighting from 60% to 40%. Among the issues he favours are tier-one capital from HSBC, which is yi...
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