Multi-asset

HAS ABSOLUTE RETURN BEEN MIS-SOLD?

Crude oil advanced for a fourth day on signs Europe and US will contain their debt crises, easing speculation demand for raw materials will suffer, Bloomberg reports.

Barings' Andrew Cole has slashed the equity weighting on his £28.1m Multi Asset fund by 15% in favour of government bonds as his team becomes increasingly risk averse.

Release of emergency oil reserves has compounded fragility of commodities markets.

Angelos Damaskos, manager of the £54m Junior Oils Trust, has bucked the trend to move defensive over the summer by increasing his equity exposure by 20%.

FRIDAY FINANCE

Aberdeen's multi-manager team have sold out of their position in Tom Walker's £677m Martin Currie North American fund and made a string of changes to their Ethical portfolio.

BlackRock is to launch two passively-managed funds of funds investing in a selection of the firm's equity and fixed income tracker funds.

Barings' Toby Nangle has joined Threadneedle as head of multi-asset.

George Soros' $25.5.bn Quantum Endowment hedge fund is sitting on 75% cash after the portfolio pulled back from the market following a 6% loss last year, Bloomberg reports.