UK fund management group sold shares in world’s largest salmon farmer.
In an interview with the Telegraph, Mark Nichols who is the fund manager for the GBP 5 billion Jupiter European Fund portfolio went into his decision.
Nichols explained Jupiter – which manages GBP 45.1 billion in total and is listed on the London Stock Exchange – swapped it for holdings at Dutch chemicals distributor IMCD.
“A new holdings is IMCD, a Dutch chemicals distributor that supplies food and beverage companies. We swapped it for an old holding in Mowi, a salmon farming business. We like the idea that more people will eat fish from sustainable sources but think there is a lot of volatility in fish prices. We look for consistency in the earnings of the companies we buy,” he added.
