Royal London Asset Management (RLAM) fund manager Richard Marwood believes the outlook for the dividend sustainability of oil giants is improving as concerns abate over the sector.
Talking to Investment Week editorial director Lawrence Gosling as part of a new video series, Marwood (pictured) - who runs the £565m Royal London UK Growth fund - said he believes oil companies have "turned a corner". The manager, who joined RLAM this April from AXA IM, has the fund's largest holding in Royal Dutch Shell, at 6% of his portfolio, while he has a 3.2% weighting to rival BP. Oil companies have been hurt by plummeting prices, which reached as low as $26 a barrel in February. However, prices have begun to rally in recent months and crude oil is currently trading at around ...
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