Marlborough UK fund ups emerging market exposure through energy sector

The manager of the Marlborough UK Leading Companies fund has upped his exposure to companies poised to benefit from growing emerging market demand for power.

  Richard Hallett, who runs the fund alongside Giles Hargreave, added Essar Energy to the portfolio when the India-focused electricity generator floated in April. Hallett says: “It is well recognised that in India the infrastructure is failing to meet the demand for electricity and other power, and Essar Energy is one of the beneficiaries of that supply/demand imbalance.” Essar Energy represents 2.3% of the portfolio and sits alongside another play on energy in emerging economies, Aggreko, which supplies generators to countries where demand for power outstrips the supply provided b...