Multi-asset managers are looking to UK equities as a short-term safe haven amid fears of a fresh political deadlock in the US.
Several impending events may have a significant impact on the US economy, and as a result some managers are scaling back exposure to US stocks. Factors that are playing on investors’ minds include the Federal Reserve’s move to taper its quantitative easing programme, and the need for politicians to agree to raise the debt ceiling by the mid-October deadline. Rob Burdett, co-head of multi-manager at F&C Investments, has recently moved from overweight US equities to neutral across the firm’s global multi-asset portfolios, and has increased his overweight to the UK. “The UK is showing...
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