manager of investec cautious managed increases asset exposure to 15%
Concerns over inflation in the UK have led Alastair Mundy, manager of the Investec Cautious Managed fund, to put 15% of the portfolio's assets into index-linked gilts. He is more concerned about rising inflation than market direction at the moment, on the back of a number of cost increases to wages, insurance and tax bills. Added to this, Mundy believes the Monetary Policy Committee (MPC) does not have the capacity to increase interest rates without damaging the consumer. Consequently, to remove the risk of inflation to the fund's portfolio he has taken its exposure to index-linked gilts...
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