Deptford sells out of Taylor Wimpey and cuts B&B as he starts vehicle revival attempt
Charles Deptford has already started emergency surgery on New Star's bottom-rung Equity Income fund after taking over from Stephen Whittaker. The vehicle is currently 76th out of 77 UK equity income peers over three years to 14 July, reporting -14% growth versus the sector average 5.7% according to Morningstar. Since inheriting the portfolio, Deptford has sold ailing Taylor Wimpey and reduced the Bradford & Bingley weighting. Whittaker kept the fund geared towards cyclical recovery but the new manager feels a defensive orientation is more appropriate given the outlook. "There was mo...
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