Britton cuts Fof emerging market exposure

T.Bailey manager believes China is looking overvalued and has shifted into US to benefit from strengthening currency

T.Bailey's fund of fund manager Jason Britton has slashed exposure to emerging markets in favour of the US on the back of favourable currency movements. Britton reduced his China weighting from 16.2% to 11.2% late last year, upping the fund's exposure to the US market from 12.9% to 15.6%. The T.Bailey Growth manager said his decision to move assets from emerging markets to the US was partly because of short-term valuation concerns surrounding the former region. "We have been positive on emerging markets for a long time, but we believe China has been too highly rated and is strongly ov...