Standard Life Equity Income Trust: Unconstrained Approach To Income
Edison | Jun 06, 2016 08:15AM ET
Standard Life (LON:SL) Equity Income Trust (SLET) is a multi-cap UK portfolio made up of manager Thomas Moore’s 50-70 best ideas for achieving a high and growing income with the potential for capital appreciation. The manager seeks attractively valued stocks with strong earnings and dividend growth potential that may not have been fully appreciated by the market. He currently sees better fundamentals in stocks outside the blue-chip FTSE 100 Index, and the trust has a large weighting (60%+) to smaller and mid-cap stocks as a result. Recent performance has been affected by poor sentiment towards UK domestic stocks in the run-up to the EU referendum; there is potential for this to reverse if, as widely expected, Britain votes to remain in the EU, although a Brexit vote could have the opposite effect.
Investment strategy: Multi-cap ‘best ideas’ portfolio
SLET manager Thomas Moore uses Standard Life Investments’ Focus on Change philosophy and proprietary quantitative stock matrix to help narrow down the universe of c 1,500 UK stocks to his best 50-70 ideas. While the trust uses the FTSE All-Share Index as a performance benchmark, the manager is unconstrained by index weightings and tends to have a larger proportion in small and mid-cap stocks. Moore seeks stocks with attractive yields and the potential for real growth in both capital and income. The portfolio is constructed bottom-up and company meetings are a key part of the process.
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Standard Life Equity Income Trust - Unconstrained Approach To Income
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