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Woodford reveals top 10 holdings dominated by pharma and tobacco

Tue, 08th Jul 2014 13:21

Highly influential fund manager Neil Woodford has revealed the top 10 stocks in his new £1.6bn Woodford Equity Income fund, including new favourites Imperial Innovations and Rolls-Royce.The university technology spin-out group and the aircraft engine-maker did not feature in the manager's previous £12.8bn High Income fund at Invesco, which he left in April.Woodford said in a statement that he had been careful to build a portfolio that avoided sectors that he believes "are vulnerable to a faltering global economy", with a heavy leaning to tobacco and pharmaceutical companies to achieve this aim. "These two sectors are resilient to falling demand, have strong balance sheets and attractive valuations," he said.The largest two holdings in the new fund are drug companies AstraZeneca, which accounts of 8.3% of the portfolio, and GlaxoSmithKline with 7.1%. Woodford also has 3.6% of the fund in Swiss giant Roche.Cigarette makers represented in the top ten included British American Tobacco at 6.2%, Imperial Tobacco at 5.3% and Reynolds American at 3.6%.Woodford has also given strong backing to the new sports-focused strategy at BT, with a 6.02% of the portfolio. Rounding up the top ten is outsourcing group Capita, at 3.36%.Woodford said his recent cautious view on the global economy has not changed. "The liquidity flows that have supported asset prices over the past five years are going into reverse, while growth in many parts of the world is being downgraded."The global economy and financial markets both face a tricky time over the next few years, but there are still many undervalued assets in equity markets and it is these opportunities that the fund is seeking to exploit."OH
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(ShareCast News) - Imperial Innovations Group announced on Thursday that, further to the shareholder approval received at its AGM on 21 November 2016, the change of the company's name to Touchstone Innovations took effect on 4 January. The AIM-traded firm added that, with effect from 0800 GMT on Thu

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28 Oct 2016 14:18

Imperial Innovations to change name to 'Touchstone'

(ShareCast News) - Imperial Innovations Group announced on Friday that at its annual general meeting on 21 November, it will be seeking shareholder approval to change the name of the company to Touchstone Innovations. The AIM-traded group was originally formed as the technology transfer office for I

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24 Oct 2016 15:04

Imperial Innovations celebrates investment momentum

(ShareCast News) - Imperial Innovations Group noted on Monday that its portfolio company, Veryan Medical, has completed enrolment into the MIMICS-2 clinical study of its BioMimics 3D Self-Expanding Stent System. The AIM-traded firm said the MIMICS-2 study is a prospective, multicentre, interventiona

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24 Oct 2016 06:59

Imperial Innovations Says Veryan Completes Clinical Study Enrolment

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13 Oct 2016 08:36

Imperial Innovations' increases investments as pre-tax loss widens

(ShareCast News) - Imperial Innovations' annual pre-tax loss widened while the technology commercialisation and investment company increased investments across its business with universities and a joint venture. For the year ended 31 July, the pre-tax loss widened to £63.1m from £15.1m, last year, w

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6 Oct 2016 15:15

UK Earnings, Trading Statements Calendar - Next 7 Days

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6 Oct 2016 15:15

Imperial Innovations shares up on portfolio company progress

(ShareCast News) - Imperial Innovations Group updated the market on Thursday, noting that its portfolio company TopiVert Pharma has announced that the first patients have been dosed in its Phase IIa proof-of-concept study to evaluate the safety, tolerability and efficacy of a rectal formulation of T

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6 Oct 2016 06:31

Imperial Innovations: Topivert Moves To Phase Two Of TOP1288 Study

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3 Oct 2016 15:20

Imperial Innovations sells Permasense portfolio business

(ShareCast News) - AIM-listed Imperial Innovations has sold its portfolio company Permasense to Fortune 500 company Emerson Electric for an initial consideration of £30.6m in cash. Further amounts of up to £10m may be paid in addition, subject to the Permasense business achieving certain performance

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21 Sep 2016 12:23

Imperial Innovations invests £5.1m in new biotech start-up

(ShareCast News) - AIM-listed technology investor Imperial Innovations invested £5.1m in Artios Pharma, a new biotech start-up launched on Wednesday. Imperial Innovations contributed £5.1m to the £25m series A funding round, giving it a 14.9% interest in the new Cambridge- based company. Artios, wh

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19 Aug 2016 09:23

Cambridge University innovation investor raises 75 million pounds

LONDON, Aug 19 (Reuters) - Cambridge Innovation Capital, which commercializes technology and healthcare research from Cambridge University, has raised 75 million pounds ($98 million) from investors, including for the first time Woodford Investment Management. CIC, founded in 2013, has alrea

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12 Jul 2016 06:55

Imperial Innovations Notes Cell Medica Acquisition Of Delenex

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6 Jul 2016 06:41

Imperial Innovations Takes Part In New Funding For Econic Technologies

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30 Jun 2016 11:39

Imperial Innovations Says PsiOxus Signs Deal With Bristol-Myers Squibb

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