Cautious Managed

Report to head of UK equities Burville

Now shut around a third of fund range

Sales of absolute return and short-term money market funds jumped in April, according to the Investment Association, as investors adopted a more cautious approach.

Traditional cautious vehicles have become "basically prehistoric" in their approach to portfolio construction, according to Tom Becket, chief investment officer at Psigma Investment Management.

The Pru’s latest asset allocation calls

Investors are too fixated on tapering in the US and are leaving themselves overexposed to risks across equity markets, according to Investec's Alastair Mundy.

ONE TO WATCH

SVM Asset Management is to close its underperforming UK Absolute Alpha and Cautious Managed funds at the end of the year due to their small size.

RBS has closed its Volatility Controlled Cautious Managed and Balanced Managed funds less than two years after launch, after both funds racked up heavy losses.

Investec Asset Management's Alastair Mundy has revealed buying JJB Sports five years ago was the biggest mistake of his investment career.