Managers review global income funds on outlook for dividends

Changing environment for dividends in global market prompts portfolio shifts.

Global income fund managers have been realigning their portfolios as dividend cuts and macroeconomic concerns prompt a rethink over positioning. As policymakers reach a fresh agreement on the Greek sovereign debt crisis, managers are still fearful of the potential knock-on effect for financials and other holdings. “I have been taking down my European bank exposure, though timing is always impossible with banks,” said Artemis Global Income fund manager Jacob de Tusch-Lec. De Tusch-Lec has most recently sold a holding in Polish bank Pekao, owned by Italy’s UniCredit. “I decided I...