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Article: ASSET ALLOCATION: Woodford leads rush for healthcare.
- Article from:
- Fund Strategy
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Neil Woodford, the head of investment at Invesco Perpetual, and other fund managers are bolstering their allocation to pharmaceuticals. Woodford recently added to holdings in AstraZeneca and GlaxoSmithKline, which, combined, now account for almost 17% of his #6.7 billion Income fund.
Woodford (pictured) describes both companies as highly cash generative, with low volatility of returns. According to the fund's latest factsheet, he expects these qualities to command a premium in the economic environment. He acknowledges that there are problems with patent expiries, but says these are nothing new.
Woodford adds that increasing economic prosperity in ...
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