PSigma's Mott to overhaul his Aberdeen funds

PSigma's Bill Mott has unveiled initial plans to revamp his four Aberdeen funds, as the manager re-unites with his former Credit Suisse income mandates.

While Mott and co-manager Neil Cumming believe the £394m Aberdeen Income fund, previously run by Graham Ashby, is “generally in good shape”, the managers believe the portfolio is too concentrated. Over time, Mott plans to increase the number of stocks from about 30 to upwards of 60. However, the fund will still run with fewer positions than the managers’ PSigma Income fund, which has 89 holdings. The managers will also implement a more top-down approach to portfolio construction. “The strong thematic approach we always adopt will drive the Aberdeen fund, so over time and as opportu...