Jupiter's Gibbs places 50% of fund in bonds and cash

Ultra-bearish Jupiter manager Philip Gibbs has placed almost half his Financial Opportunities fund i...

Ultra-bearish Jupiter manager Philip Gibbs has placed almost half his Financial Opportunities fund into bonds and cash. The defensive move was taken at the tail end of last year as financials stocks were tumbling across the world. At the end of November 2007, Gibbs held 39% of his portfolio in fixed income, mainly in UK gilts and US treasuries. Cash made up 10% of his portfolio, leaving just 51% invested in the equity market. Gibbs cemented his reputation during the dot.com crash at the start of the century, posting gains of 16.79% between March 2000 and March 2003 against a FTSE Wor...