Newton manager slashes UK equity exposure to unprecedented lows, believing greater diversification will result in lower price volatility
Phil Collins has reduced his UK equity weighting to unprecedented lows, following his bearish view on the asset class. Launched in April 2003, his £160m Newton Phoenix Multi-Asset fund offers exposure to a mix of equities, bonds and cash. Though a third of the portfolio must be in equities and a third in cash and bonds, Collins can hold the balance in a mix of property, commodities, private equity and funds of hedge funds. Collins said: "Greater diversification in my portfolio should result in lower price volatility." However, the manager has slashed his exposure to the UK from 34% ...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes