Major changes afoot for Martin Currie UK

The Martin Currie UK Equity Income fund has undergone a radical change following the arrival of Scott McKenzie as manager in October last year. He has reduced the holdings from 57 to 48, selling 24 names out of the portfolio and adding 15 further positions. McKenzie, previously at Britannic and Morley, has built up small-cap exposure from 0% to 8%, with 68% in blue chips, 23% in mid-caps and 1% in cash. McKenzie has divided the portfolio into two pools. The first is looking for stocks with superior dividend growth prospects to the market as a whole, hence his focus on small caps. When he ...