McQuaker shorts FTSE 100 and S&P 500 on correction call

Henderson's Bill McQuaker has initiated short positions on the FTSE 100 and S&P 500 across his multi-manager range on expectations of near-term pressures for equity markets.

While McQuaker says the real economy will continue to grow throughout the year, he believes it is prudent to reduce risk in his portfolios following the strong rise for markets since last year’s lows. The tactical futures positions join a similar short on gilts across the manager’s Henderson Multi-Manager Income & Growth, Growth, and Distribution funds. The shorts make up a large proportion of the average 25% cash position across the £644m range. McQuaker says the portfolios benefited from being overweight equities since the market lows, however, the manager decided to move back to a ...