Fidelity's Bill McQuaker has been adding gold exposure to his multi-asset portfolios as a way of hedging the funds, as well as seeking out shorter-term trades.
McQuaker (pictured) joined Fidelity in October 2016 from Henderson Global Investors and took over management of the Multi Asset Open range in January. It includes five risk-rated funds targeting average annual returns of between 4% and 7%. McQuaker said the appeal of using gold in the portfolios was it offered a hedge against both inflation and deflation. Previously, only one fund in the range held exposure to gold but the manager has now added positions across the range. The gold spot price (GBP) has already risen 8.8% YTD as investors seek out safe-haven assets. "Gold acts a...
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