Pictet multi-asset trio: How we weathered the 'Black Monday' storm

Team eying EM opportunities

Anna Fedorova
clock • 2 min read

The managers of the FP Pictet Multi Asset Portfolio have made a number of bold asset allocation moves since the fund launched in June, including drastically reducing equity holdings in time to avoid the worst of the 'Black Monday' sell-off.

In their first interview since the fund launched, the managers told Investment Week they cut the fund's equity weighting from an initial 55% to 20%, in anticipation of worsening conditions in Asian and global markets. Andrew Cole, senior investment manager, said: "[Investors] need to make meaningful changes to their asset allocation to protect against the recent sell-off. Our long term average allocation to equities may be 60%, but sometimes we will want a good deal less. "We started reducing equities in June as we expected something to happen in China. The unpegging of the currency w...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Emerging markets

Carmignac's Amol Gogate: Why a Modi election win could further propel India's markets

Carmignac's Amol Gogate: Why a Modi election win could further propel India's markets

Modi projected to win

Amol Gogate
clock 04 June 2024 • 3 min read
RBC BlueBay AM's Laurence Bensafi: EM index recomposition calls for investors' change of perception

RBC BlueBay AM's Laurence Bensafi: EM index recomposition calls for investors' change of perception

'Progressive maturation' of asset classes

Laurence Bensafi
clock 30 May 2024 • 3 min read
TEMIT's Chetan Sehgal: The outlook for emerging markets halfway through 2024

TEMIT's Chetan Sehgal: The outlook for emerging markets halfway through 2024

Headwinds to Chinese valuations

Chetan Sehgal
clock 29 May 2024 • 2 min read
Trustpilot