Fund managers have been taking a more defensive stance and increasing their cash weightings, with some even pushing towards 20%, as they point to stretched valuations in some parts of the market, while fears grow about the impact of central bank tightening on the fragile global recovery.
Global government bond yields have jumped in the past couple of weeks as central banks have signalled less accommodative monetary policy ahead. However, while the focus has been on prospects for a sequel...
Joe McDonnell joins as head of portfolio solutions (EMEA)
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Changing fund structure