Managers shifting to higher beta

Following increased appetite for risk over the second quarter of 2003, managed fund managers are shi...

Following increased appetite for risk over the second quarter of 2003, managed fund managers are shifting their asset allocations to higher beta positions, according to Standard & Poor's. Over the three months to 28 July, returns within the IMA's Active, Balanced and Cautious Managed sectors have all been positive with the exception of one portfolio, the FPIC Investment Opportunities, which delivered a negative return of 4%. James Tew, head of fund research at S&P, noted Jupiter Merlin High Income Portfolio manager John Chatfeild-Roberts has moved to an overweight position in equities ...