LGIM's Hilsley: 'Price is more important than momentum and themes'

Lawrence Gosling talks to LGIM Asian Income trust manager Paul Hilsley about how his fund is positioned to benefit from the evolving dividend story in the region.

How would you describe the style and strategy of the fund? We are looking for corporates that have effectively a few runs on the board, some established credibility and hence good cashflows, sound balance sheets and good management. A total of 11.7% of the portfolio’s holdings are below £2bn market cap. I have developed the ethos of looking at stocks in terms of fundamental analysis, getting to understand the businesses very well through corporate access and research, and then focusing significantly on the valuation case.  It is not a deep value philosophy, but rather a relative value...