Fish adds risk to JPM American trust

JP Morgan American Investment Trust manager Garrett Fish is adding financials and consumer discretion...

JP Morgan American Investment Trust manager Garrett Fish is adding financials and consumer discretionary stocks to his portfolio as part of a strategy to build up his equities exposure. He says he is buying stocks at the expense of Treasuries in a bid to capture a market upturn, although he is not predicting when this will happen. The trust is also 113% geared. The manager now holds an overweight position in cyclical consumer stocks but remains defensive in his large cap and technology holdings. Fish says: "Any recovery in stock markets could be dramatic, even if timing is unclear, so t...