Shell’s acquisition of rival company BG is likely to hurt its finances, making its dividend look more uncertain CREDIT: ARND WIEGMANN
By Laura Suter: 28 OCTOBER 2016 • 8:59AM
Tom Walker, manager of the Martin Currie Global Portfolio, has 59pc of his fund’s assets in American companies. While he is concerned about the outcome of the election, he does not think a Trump win will necessarily be terrible for the American economy or for the companies he invests in.
Mr Walker, who has run the fund since its launch, tells Telegraph Money why he recently invested in one giant Chinese firm and why he cut Royal Dutch Shell from the portfolio.
We have fairly large holdings in energy firms, which means we have benefited from the big rise in the oil price in the first half of the year. We have taken a bit of money out of those stocks and have sold out of Shell.
We think with oil prices at $55 a barrel Shell can probably maintain its dividend but it is going to rely on asset sales to do so as cashflow from its operations is not sufficient and it has quite a lot of debt following the BG acquisition. I also know a lot of people own Shell just for the dividend so I worry that if it cuts the dividend, that will cause a sell‑off.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
