fleming mercaNTILE TRUST FAVOURS DIVERSIFIED APPROACH WHILE WAITING FOR DIRECTIONAL CLUES
The £795.2m Fleming Mercantile trust is sitting on a broadly diversified portfolio while waiting for the market to offer some directional cues. The trust invests in UK stocks outside the FTSE 100 index, with a bias towards mid-caps. Martin Hudson, who runs the fund with co-manager Katy Woodhouse, said while mid and small caps appear to be offering good value, buyers are still holding back. 'On an arithmetic basis, the stock market is good value,' he said. 'We are on prospective yields in our part of the market of 5%. That's a growing dividend yield and is covered by more than two t...
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