F&C multi-managers return to Luckraft

F&C has reintroduced AXA Framlington Equity Income to its multi-manager Cautious and Distribution portfolios.

The AXA fund, managed by George Luckraft, has been added as part of a tactical positioning to increase risk exposure at a stock level, F&C says. Previously in its multi-manager and Lifestyle portfolios until February 2008, AXA Framlington Equity Income was removed as the F&C MM team looked to reduce small and mid-cap exposure. Paul Carne, fund manager in the F&C multi-manager team now says the portfolios are now being more weighted towards stock specific risk, rather than sector. The team has taken a 3% position in Luckraft's fund both its Distribution and Cautious vehicles. Elsew...