Pinggera drops emerging markets exposure after losses in 2013

Four Capital Partners' Mike Pinggera has removed positions in emerging markets, BRICs and Asia ex. Japan from his Multi-Strategy fund after recent losses.

Pinggera was previously fully invested in all three markets alongside positions in UK, US, global and Japanese equities, and Europe ex UK shares. However, following a tough spell for emerging markets at the tail end of 2013 - which led to small losses for the fund - he has reduced his exposure. He said: "December was a volatile month with equity markets falling up to 5% during the first two weeks then rallying towards the end of the month. "Developed markets managed to finish positive whilst emerging markets and Asia ex. Japan stayed in negative territory." The fund, which was l...