LVAM’s head of U.K. equities and manager of the U.K. Equity Income fund has reduced his position in BP, Investment Week reports. Graham Ashby has brought down the stake by 1% bringing it to 4%. Ashby has also reduced stakes in Imperial Tobacco and Tesco, completely removing the former from the portfolio. He has added the proceeds of the sales to his existing holdings in BHP Billiton, Rightmove and Victrex.
Click here for the story from Investment Week.