PineBridge's Redha: We are nowhere near the end of a cycle

End of 'fragility-based' policymaking

Hani Redha, managing director and portfolio manager of PineBridge Investments' multi-asset funds, has cut "effectively all" exposure to fixed rate bonds, as he expects sustained and strong global growth.

Redha, who is responsible for $16bn in AUM, is encouraged by global GDP growth figures and believes central banks are unlikely to instigate policies that will bring the current bull cycle to an end. "Bull markets only die when they are murdered by central banks, and they are not about to do that just yet," he said. "Central banks will tighten gradually as they are very sensitised to moving too quickly and damaging the recovery they have fought so hard to support. Time for central bankers to turn the tide at Jackson Hole? "To the extent that yields rise, risk premia can compress ...