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
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Key events for UK wealth managers for the week starting 6 November
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The JOHCM UK Equity Income managers discuss collaboration, careful stockpicking and intentionally high hurdles
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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.
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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.
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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.
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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.
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Neil Woodford’s flagship fund found its footing in February and broke the £10bn barrier as the reflation trade began to lose its shine.
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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.
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Shares were down 2.5% to 4,461.5p late Thursday morning, following reports the pharmaceutical group’s pre-tax profits had slipped 29%.
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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.
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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.
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