Scottish Widows’ Global Growth fund manager, Mike McNaught-Davis, has restructured its £540.6 million portfolio, Financial Times reports. The manager has now positioned the fund towards value and quality stocks. The fund, which posted a 9.7% return in the six months to March 14, 2011, was focused on momentum stocks in 2010. The U.S. weighting in the fund has now been increased to 41.2% and emerging markets now account for nearly 3.43% of the fund. McNaught-Davis, head of international equities, took over from Colin Beveridge in September 2010.

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