By Charlotte Banks
Tuesday March 16, 2010 at 12:00
The funds largest sector position
is in healthcare, where Wintle
says he favours pharmaceutical and biotechnology companies.
Wintle also favours industrial stocks especially military-orientated companies such as Northrop Grumman, the security specialist firm, which are direct beneficiaries of the US Defence Department’s recently announced $700bn budget.
"With a 10 per cent position in the sector, we are currently neutral versus the Index but will look to potentially increase this going forward. Other key positions include overweights in both consumer staples and consumer discretionary," he says.
Another overweight position in the portfolio is in information technology, which Wintle believes is performing strongly and points to Microsoft as a particularly attractive stock.
"Currently the stock is trading on a P/E multiple of circa15, a significant discount to its previous highs. With new product development driving growth, we believe that there should be considerable upside here."