Steven Berexa, manager of the Allianz Global Insights fund, reveals how key investments have helped his fund to succeed in recent months.
Partner insight The fund has maintained an above-average cash weighting of 8% after the presidential election. Why? Our allocation to cash is a result of general market complacency and mounting geopolitical risks globally. Prior to the election, I had a significant level of cash which indicated a high degree of certainty that something could go wrong. Our current weighting reflects concerns the VIX has reached a new low and valuations are stretched. I am very aware the 10-year Shiller CAPE model is flashing red and as many investors know: volatility begets volatility. If we...
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