You are here: Home - Investing - Experienced Investor - News -

Woodford sells decade-long holding in ‘expensive’ Reckitt Benckiser

Written by:
Neil Woodford has ended a 10-year investment in Reckitt Benckiser after the shares became "too expensive" to justify holding any longer.

Revealing his latest portfolio moves, the manager (pictured) said in an update he had offloaded his £3.1bn Woodford Equity Income fund’s position in the consumer goods giant after its rating became too high compared to other opportunities.

Mitchell Fraser-Jones, who works alongside Woodford on the fund, said: “We exited Reckitt Benckiser, a share which has been present in Neil’s portfolios for over a decade.

“We continue to view Reckitts as a great business with a very strong management team and an excellent product line-up. Such a high quality business deserves a high market rating but the shares have recently become too expensive to continue to justify their position in the portfolio.”

Shares in Reckitt have gained a staggering 281.6 per cent over the last decade, compared with the FTSE 100’s gain of just 40.3 per cent.

The fund had 1.5 per cent of its of assets in Reckitt stock at the end of August.

Elsewhere, Woodford has added to other long-term favourites including British American Tobacco and G4S, both of whihc he said had seen “undeserved” share price weakness in September.


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week