Aegon’s Scott on using the tech giants for income, stubborn inflation and private equity perils
The co-manager of the Aegon Global Equity Income fund says there are ‘no unique companies’ left in the UK
The co-manager of the Aegon Global Equity Income fund says there are ‘no unique companies’ left in the UK
Key events for UK wealth managers for the week starting 6 November
The JOHCM UK Equity Income managers discuss collaboration, careful stockpicking and intentionally high hurdles
Star fund manager Neil Woodford has defended his significant holding of pharma giant AstraZeneca after weak half-year results sent the stock price tumbling on Thursday morning.
Witnessing AstraZeneca’s share price dive Thursday morning has given some investors a sense of déjà vu and sparked ideas that Britain’s second largest pharma firm could be vulnerable to another takeover bid.
AstraZeneca’s plummeting share price was the biggest story in a morning flooded with company results on Thursday, with the FTSE index holding steady despite a wobbly start for stocks.
AstraZeneca shares were trading slightly lower this morning after the firm reported a 12% fall in revenues thanks to a decline in sales of a flagship cholesterol treatment.
Neil Woodford’s flagship fund found its footing in February and broke the £10bn barrier as the reflation trade began to lose its shine.
AstraZeneca’s shareholders will have seen little in this morning’s Q4 results statement to cheer them, according to EdenTree Investment Management fund manager Ketan Patel.
Shares were down 2.5% to 4,461.5p late Thursday morning, following reports the pharmaceutical group’s pre-tax profits had slipped 29%.
In his second piece from the Woodford Investment Roadshows, Gary Corcoran looks at Woodford’s views on AstraZeneca, research and Britain’s track record of converting great science into great business.
The battle for AstraZeneca between Pfizer, the UK government and the existing shareholders of both companies is, as far as investors are concerned, all about its valuation - nothing more, nothing less.