Alliance Trust turns to equities
INVESTMENT company Alliance Trust said it remains “cautiously optimistic” about its prospects as it pumped up its exposure to equities.
The firm increased its exposure to equities to 90.6 per cent in the three months to October 31 with a focus on stocks that will benefit from an upturn in economic activity. BP, HSBC, Rio Tinto and Royal Dutch Shell are favoured investments.
Chief executive Katherine Garrett-Cox said: “We still believe that the consumer will remain subdued for some time, hence our underweight positions in consumer goods and services as well as utilities and healthcare. Our largest overweight positions remain in oil and gas, industrials and basic materials.”