View more on these topics

M&G’s Dobell favours consumers stocks in recovery fund

M&G fund manager Tom Dobell says he is seeing a number of opportunities in the consumer sector for his £7.9bn recovery fund.

According to data from Trustnet to the end of March, the fund has 9.2 per cent in consumer services and 4.7 per cent in consumer goods.

Dobell says: “The new holdings we are looking at are more in the consumer area than previously. Ratings have fallen in the consumer sector and we have taken the opportunity to pick up shares.”

Examples of shares he is holding in the consumer space include Booker, Easyjet and Mothercare. Unilever is in the top ten holdings at 2.9 per cent, according to data from Trustnet.

Dobell reinforced his position on holding BP and said it was in the first stage of recovery in terms of its potential.

He says: “The cashflow capacity it has got is awesome, but the leadership has been underwhelming. Ultimately, it should be doing better than it is in terms of where it is trading.”

The £7.9bn recovery fund currently has a 5.9 per cent position in BP, according to Trustnet. The stock is trading at nearly £4.


Regular-premium sales rise at Friends

Friends Life’s first-quarter life and pension regular-premium sales rose by 21 per cent although single-premium new business figures were hit by the firm’s decision to stop marketing its investment bond products during 2011. Total UK life and pension regular-premium sales rose from £122.5m to £147.8m. In the firm’s corporate division, regular-premium pension sales increased by […]


Peer slams FSA’s ‘loss of proportion’ over Solvency II

Conservative peer Lord Ashton has attacked the FSA’s approach to implementing Solvency II, accusing the regulator “losing its sense of proportion”. Speaking in a debate in the House of Lords yesterday, Ashton, who also works in the insurance industry said Solvency II has created a “tidal wave of bureaucracy and expense” for firms. He added […]


Charges waived as PosSol picks Aegon as preferred platform

Aegon-owned Positive Solutions has announced that Aegon Retirement Choices will be the first of three platforms on its panel, with charges waived until 2014. PosSol chief executive Peter Coleman says it will not be mandatory for advisers to use any of the three platforms but he hopes the commercial benefits which have been negotiated will […]

Blacksquare increases volatility on defensive fund

Blacksquare has made several changes to its Acumen defensive portfolio, formerly the IFSL Blacksquare multi-manager absolute return fund, to produce higher returns with volatility closer to its maximum target of 4 per cent a year. The portfolio, which is up about 0.55 per cent in the year to date, had recently been trading with volatility […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm