Threadneedle's Colwell adds to Centrica in contrarian trade

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Threadneedle's Richard Colwell is adding more to stocks including Centrica and GlaxoSmithKline as he seeks contrarian equity income plays for the months ahead.

The co-manager of the Threadneedle £3.3bn UK Equity Income fund, who marks his five-year anniversary at the group this quarter, said investors should now be weighing the prospects of such contrarian stocks in the face of a trickier environment for UK payouts. Having produced top-quartile performance on the portfolio alongside Leigh Harrison since his arrival, Colwell (pictured) suggested the coming years will present more of a challenge for income investors. “Three to four years ago, it was a nice environment globally in terms of dividend collection. You could buy the likes of Unileve...

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