Alliance Trust ditches Lloyds for Barclays in £3bn portfolio

An overhaul of Alliance Trust's top ten holdings has seen it swap Lloyds for Barclays and step up its gearing in Q1.

Four new holdings have made the top ten positions in the giant investment trust. Walt Disney, Zurich Insurance, Barclays and Infineon Technology account for £140m of the £220m of new holdings initiated over the period. These were been funded by increased gearing, profit taking in specific holdings, and sales of stocks including Lloyds, Ericsson, BG Group, ARM Holdings and Apache Corp. At the sector level, the fund’s largest exposure remains in financials and healthcare, although information technology has replaced industrials as the portfolio’s third largest overweight sector. The ...