This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

Mott and White boost oil stocks as prices stay high

  • Print
  • Comment

Income fund managers Bill Mott and Chris White have been adding to oil stocks in their portfolios on the expectation of continuing high oil prices.

Mott has increased exposure to oil companies in his £381m PSigma income fund from 17 per cent to 19 per cent.

Mott says: “Oil prices will stay stronger than the economy would warrant for geopolitical reasons.

My thinking is that the oil price is going to be stronger than I thought six to nine months ago.

“Companies such as Shell are going to be able to fund all their capital expenditure and all their dividends right down to $60 per barrel of oil.”

Brent crude oil was trading at $111 a barrel on January 16.

Premier income fund manager Chris White believes global GDP growth for this year should be 3 per cent which he says is good for oil demand.

White has bought a 1.5 per cent position in Total in the £325.7m Premier income fund and added 1 per cent to his 3.5 per cent holding in BP in the last two months.

He has also take a 2 per cent position in Total for the £150.6m Premier monthly income fund.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick


Do you see the value in adviser trade bodies?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments