PSigma takes cautious stance as market volatility continues

PSigma is taking an increasingly cautious house view in both its investment management and asset management divisions in the face of volatile markets.

PSigma IM seeded Axa’s US Short Duration High Yield Bond fund, pointing to its interesting approach to high yield credit. Tom Becket, the chief investment officer, says the group reduced its long equity exposure to fund the purchase. “Having enjoyed healthy returns over the past year, the correct approach to us seemed to be reducing overall portfolio risk, through taking profits from those investments that have performed best and reached fair value.” PSigma has also developed a structured product with Morgan Stanley, the FTSE Accumulated Income II, the first it has ever used in cli...