Caution wins out as more defensive strategies top Balanced Managed

SECTOR ANALYSIS

Managers in Balanced Managed peer group point to cautious positioning as reason for outperformance over three years

Defensively-positioned managers are at the top of the Balanced Managed sector tables despite much of 2009 and 2010 rewarding risk investors. Funds including Newton Global Balanced, Miton Strategic Portfolio, Troy Trojan and CF Ruffer European are all in the top decile over three years and nearly all managers point to cautious views applied to their mandates as reasons for outperformance. The last three years included one of the most torrid times for markets, the Lehman Brothers collapse in 2007 and the subsequent credit crunch, which will be remembered for many years to come. It wa...