Collins takes UK equity weighting to all-time low

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% ...