News Column

Investments New fund to focus on tobacco and drug stocks

July 8, 2014

Reuters



Star British fund manager Neil Woodford, who left Invesco Perpetual in April to start his own firm, is beginning his new role with a focus on tobacco and drug stocks, believing they can withstand what he expects will be a faltering global economy.

He said: "These two sectors are resilient to falling demand, have strong balance sheets and attractive valuations."

Woodford's top bets at the end of June included AstraZeneca and GlaxoSmithKline, alongside British American Tobacco and Imperial Tobacco. Reuters



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Source: Guardian (UK)


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