Bearish Walker snaps up dividend- paying mega caps in trust revamp

Martin Currie's US manager Tom Walker has been snapping up income stocks after converting his Global Portfolio trust into a global offering.

Previously the fund could only invest 50% in international equities, but the group converted it into a pure global equities trust in May and it was renamed. Its benchmark changed from the FTSE All Share to the FTSE World index, and Walker has spent the past four months refocusing his holdings. Walker said he is seeing a lot of value in stocks with increasing dividend payouts, although the trust has historically invested in growth names. He has been adding to the area in the expectation companies which have amassed strong cash balance sheets will emerge strongest from a subdued econ...