Three managers on their best global income plays

INCOME

A trio of global equity income managers reveal the stocks and sectors shaping their portfolios.

Dan Roberts, portfolio manager, Fidelity Global Dividend fund In the Fidelity Global Dividend fund, I continue to have high exposure to relatively defensive sectors. Healthcare (19%) is the most significant position followed by consumer staples (16%). In contrast, we have more limited exposure to more cyclical sectors such as materials (1%) which is dominated by mining stocks. I have no exposure here as I have significant concerns about the sustainability of margins which have been buoyed by unprecedented levels of fixed asset investment in China. Within our financials exposure (12%) we h...