Nutt halves holdings to focus on large caps

Nutt, whose trust has underperformed UK Equity Income sector peers over the period, said he has been favouring larger companies in the past few years, and has cut the number of holdings in the portfolio to accommodate the shift. Over the past three years, Nutt’s fund has trailed the income sector, returning 5% compared to an average 11%, according to Morningstar. Holdings have come down during this time from 91 at the end of 2007 to 53 by the end of February 2011. Nutt said the number of stocks has fallen amid a shift to sectors such as pharmaceuticals, an area he had previously av...