Slater cuts Growth fund holdings on sustainability fears

Slater Investments' Mark Slater said he is being forced to run an increasingly concentrated portfolio as the number of suitable growth companies declines.

Slater (pictured), who manages the MFM Slater Growth, Recovery and Income funds, said slowing growth in the market is making it difficult to manage a growth fund. "Growth has been slowing and that will continue, so the number of companies which are generating sustainable growth will reduce. "As a growth fund, how we are managing this is by only investing in those companies which we are very very confident about, which means the fund is becoming more concentrated." Slater said the £388m Growth fund currently invests in 51 names, down from 56 earlier in the year, and he plans to sell...