Portfolios have been actively re-positioned following the pandemic
Temple Bar’s(LON: TMPL)new managers, Nick Purves and Ian Lance, have made a number of changes to the fund since taking over the mandate last November. The value-oriented investment trust has made a decent recovery, but despite the gains they still believe that UK shares continue to be valued at a marked discount to world equities.
One area that Purves and Lance have added to is the energy sector that is dominated by key holdings BP and Royal Dutch Shell, which they believe will be able to reduce their carbon emissions while delivering attractive returns for shareholders. The position in the education publisher Pearson has also been increased.
Managers William Meadon and Callum Abbot at JPMor...