Alliance Trust’s has swapped Lloyds for Barclays among its top ten holdings, in its GBP3 billion portfolio, in an overhaul aimed at stepping up its gearing in Q1.
Four new holdings have found place among the top ten positions in the giant investment trust.
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The trust’s share price was 430.1p on 31 March 2013, representing a 14.6% change and a total return of 15.2%.
Alliance Trust CEO Katherine Garrett-Cox said Alliance Trust remains "focused on the global thematic long-term drivers of stock specific returns which dominate stock price movements over time".
"We feel this is a prudent approach and adds value, throughout the economic cycle, and is consistent with our objective of delivering an increasing total shareholder return on a sustainable basis."
Garrett-Cox added that this year the trust has had its "best Q1 in 15 years, driven by the strong performance in global equities, while having less than a quarter of the trust exposed to the UK helped performance".
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