LGIM multi-asset fund manager Justin Onuekwusi has upped his cash weightings to their highest ever levels, on fears that tighter US monetary policy will prompt greater market volatility.
Onuekwusi, who runs five multi-asset portfolios, said he has moved from being positive to neutral on risk assets, prompting a number of asset allocation changes. These include increasing cash weightings on his funds to their highest levels since the range launched in August 2013, with the biggest rises seen on his lowest-risk Multi-Index 3 and Multi-Index 4 portfolios. There have also been a number of changes to his equity positions, including a cut in his US equities weighting in Multi-Index 6, his second highest-risk portfolio, from 17% in November 2014 to 10% this month. His UK eq...
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