David Coombs, head of multi-asset investments at Rathbone Investment Management, has started building a position in gold across his multi-asset portfolio fund range for the first time since 2011 as protection against what he feels is an increasing likelihood of a UK recession.
The manager has been vocal in recent years on his aversion to gold as he believes it is a "purely sentiment-based" asset that is difficult to value. However, he has been buying up the asset class as his...
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