Courtiers has no direct exposure to Carillion, a London Stock Exchange listed support services business now in compulsory liquidation.
Courtiers UK Equity Income fund uses a quantitative screening model to select companies that offer characteristics such as strong cash flow, attractive share price, low volatility, and stable or rising dividends. Our analysts then perform a “sanity check” to consider recent news, pension scheme obligations, default risk, shareholder rights and corporate governance. Carillion was sold from our UK fund in February 2017 as it was rejected by our model. At that time it failed our criteria for investment and is therefore not held in any Courtiers fund.
Carillion is closely connected to the Infrastructure sector. Courtiers multi-asset funds have infrastructure exposure. Carillion provides facilities management services for global infrastructure projects and is involved in Public Private Partnership (PPP) projects within the UK. Courtiers has a position in BBGI, an infrastructure fund with UK PPP exposure and a global infrastructure portfolio. BBGI has no projects where Carillion provides facilities management services.
Caroline Shaw CFA, MEng (Hons), Dip PFS, IMC, Chartered MCSI
Head of Fund & Asset Management
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