Major cash positions help Buttery avoid worst of market downturns

Manager of Opes funds believes Fof managers are not providing sufficient returns for high levels of risk, advocating better cash management

Manager of the Margetts Opes multi-manager products Wayne Buttery believes funds of funds are subjecting investors to high levels of risk without providing significant returns. He has previously adopted 100% cash positions at times of market risk and managed to avoid significant fall-out from recent corrections after moving 50% of assets in cash. Ex-adviser Buttery said that 10 days before the beginning of the 2003 invasion of Iraq, he adopted a 100% cash position, thereby avoiding the market downturn. He then reinvested, but moved back to a 100% cash position when he thought the markets ...