Green kicks off by cutting housebuilders

Trevor Green trims sector from Managed Distribution as part of dividend growth shift

Trevor Green's first call on the equity portion of New Star's £400m Managed Distribution fund was to remove housebuilders in time to avoid the Taylor Wimpey fallout. The ex-Allianz mid-cap specialist took over the mandate from Toby Thompson six weeks ago and has shifted it to dividend growth rather than screening for high yields on stocks. "There were three housebuilders - Taylor Wimpey, Bovis and Persimmon - and I took them out," he said. Building product suppliers Topps Tiles and Wolseley, also hit by recent housebuilder sector panic, were sold in time. Green has also brought mini...