Franklin Templeton's Morton shrinks utilities exposure on 'political football' concerns
Government imposed energy price cap
Colin Morton of Franklin Templeton
Colin Morton, lead manager of Franklin Templeton's £504m UK Equity Income fund, has reduced the fund's exposure to utilities after taking a hit from investing in the sector, which is facing mounting political risks.
Morton identified the UK government's plans to impose a price cap on the sector as well as the resurgence of the Labour Party under current leader Jeremy Corbyn as the two key political headwinds for utilities....
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