Rathbones' Thomson ramps up cash to 15%

Manager of the Rathbones' Global Opportunities fund has ramped up his cash weighting to 15%, but plans to put it to work over the coming weeks.

Thomson said he shares market participants' nervousness over recent volatility, which is why he has raised cash. "I cannot sugar-coat this: over the summer, markets have crashed as investors anticipated a return to recession," said Thomson. "Volatility has been amplified by thin volumes, high frequency trading and frantic institutional ‘hedging' programs. I share their nervousness, but I have raised cash levels to around 15% and I plan to deploy these reserves over the coming weeks." Thomson's three-year returns stand at at a healthy 14.7% against a sector average of 5.7%, accordin...