Callow adds ETF focus to Midas Balanced Growth

MAM Funds' Simon Callow has changed the strategy on his Midas Balanced Growth fund to make greater use of exchange-traded funds (ETFs) and hedging.

The aim is to mitigate against equity market losses and reduce the beta of the £214m portfolio. Callow (pictured) has hedged his UK and US equity exposure, and has moved long European volatility to hedge against a worsening of the eurozone debt crisis. He also had about 6% of the fund in short ETFs prior to the recent sell-off in risk assets, which he said has benefitted performance and helped control risk. “In light of the deteriorating geo-political and investment landscape, an element of capital has been reallocated from equity and commodity asset classes and redirected to short...