Chatfeild-Roberts: Stronger sterling may push me out of UK assets

Jupiter CIO John Chatfeild-Roberts has said he will seek to invest more of his £9bn Merlin multi-manager range in funds with overseas assets if sterling maintains its upwards trend.

Sterling has continued to strengthen in recent months as suggestions of a UK economic recovery gain credence, hitting a 2.5 year high of $1.66 against the dollar in January. Though the pound has given up some of those gains in the past few days, Chatfeild-Roberts said he was keeping a close eye on the currency. “Sterling has been stronger than anticipated. We have not had a hedge on, but if it got a bit higher, we would want to have a lot less in sterling, and more assets overseas,” he said, speaking exclusively to Investment Week. However, the team has hedged yen exposure as it co...