Aberdeen multi-managers build cash but still bullish on equities

clock

Aberdeen co-heads of multi-manager Graham Duce and Aidan Kearney have been building up cash across their MM range on expectations of near-term pressure for equity markets.

After running almost fully invested over the last few months, the Aberdeen MM team increased cash levels to about 5-7% across the portfolios over the past week. As has been the case over the summer, Duce expects equity markets to continue moving within a trading range for the foreseeable future. "We are cautious in the short-term, especially considering the strong September we have seen," Duce says. "Equity markets have been in this trading range for some time and we think we are now near at the top of this. After experiencing the worst August in a decade, the S&P is up almost 10% ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Managed funds

Trustpilot
Loading page