Midas adopts a cautious stance on balanced funds

Managers move onto defensive footing, believing full effects of credit crunch are yet to be felt

The Midas Capital team has adopted a cautious tilt on its balanced multi-asset funds as the managers do not believe the full effects of the credit crunch have fed through to the stock markets. Chief executive and fund manager Simon Edwards said he has gradually placed the fund in more defensive holdings over the past few months as he feels the nervousness from the summer volatility has not yet hit the markets. Edwards said he is aware that if the markets rally the funds will miss out but feels this is the right action to take at this time. "We are not becoming outright bearish but are...