Fidelity's Steve Gibson has been adding risk back into his MultiManager Balanced portfolio, positioning it towards funds that will do well in a recovery environment.
Through last year he has moved from an aggressive position to a more defensive stance, but has gradually been looking to add risk back into the portfolio in recent months. The manager has taken 10% out of cash and fixed income positions to move into long/short equities. Gibson said: “Towards the end of last year I started to take down my weighting to fixed interest. It made sense when yields were so low to start to invest in funds that gave a similar level of return expectation. “With yields so low there is an asymmetric risk on offer from bonds, and it made more sense from a risk/...
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