Schroders' See: Investors should not hide in cash

Schroders' Thomas See has argued investors can no longer ‘hide' in cash, warning it should not even be recognised as an asset class in this environment.

See, who runs more than £1bn of assets in Schroders’  onshore Maximiser fund range, predicts UK interest rates will remain at their historic low levels for another five years, eroding the value of capital left in cash.     His comments come as a number of his equity income peers have been hiking cash levels to record highs in recent months, amid fears valuations have reached extreme levels. Managers such as Rathbones’ Carl Stick and Newton’s Tineke Frikkee are running cash positions near record highs because they are finding limited opportunities in the income space. However, See a...