MM Diversity fund prepared for short-term equity bounce

The Swip multi-manager team has reduced the FTSE iShares exposure in its MM Diversity fund over the ...

The Swip multi-manager team has reduced the FTSE iShares exposure in its MM Diversity fund over the last few weeks on expectations the recent equity bounce will not persist through the summer. Co-managers Simon Wood and Mark Harries have also trimmed exposure to gilts in the portfolio, in a move to increase weightings in strategic bond vehicles. Speaking at the Cofunds Platform conference, Wood urged investors not to pile all their money into equities just yet, believing the markets could see a short-term correction. "We purchased the FTSE ETF in March and it did do very well for us, ...