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JOHCM Equity Income Picks 2.6% In Tesco

Clive Beagles of JO Hambro Capital Management has for the first time in seven years invested in U.K. retailer Tesco.

Clive Beagles of JO Hambro Capital Management (JOHCM) has for the first time in seven years invested in U.K. retailer Tesco, Investment Week reports. The move follows a change in the supermarket company’s dividend policy and a shift in its focus to capital and debt reduction.

Beagles has added a 2.6 percent stake in the group. In order to finance the acquisition of Tesco shares, Beagles also sold some of the £879 million JOHCM U.K. Equity Income fund’s stake in Sainsbury’s, the parent company of Sainsbury’s Supermarkets. He runs the fund with colleague James Lowen.

Click here for the story from Investment Week.

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